Ozon Holdings PLC
OZON,
certainly one of Russia’s largest web corporations in Russia, mentioned the halting of its inventory by the Nasdaq might result in a “Delisting Occasion” below phrases of its $750 million, 1.875%, senior unsecured convertible bonds due 2026. Ozon’s American depositary shares has been halted by Nasdaq since Feb. 28. A “Delisting Occasion” would happen if buying and selling on the ADS is suspended for seven classes or extra, which might be March 8 for Ozon’s ADS, and would entitle the bondholders to require the corporate to redeem their bonds on the principal quantity plus accrued curiosity. The corporate mentioned that if a “Delisting Occasion” have been to happen, and it was unable to efficiently negotiate with its bondholders, and have been unable to supply the required liquidity to fund early redemption of the bonds, “it might lead to a big discount in the amount of money out there to fund its operations and would have a big impact on its operations and development outlook.” Ozon’s inventory had plunged 49.5% amid a six-day shedding streak earlier than the buying and selling halt, to shut at a file low of $11.60.