We understand that a number of companies have received a letter from the St. Petersburg (Russia) Stock Exchange stating that it is in the process of unilaterally listing the company’s securities. These letters appear to be part of an exchange initiative to increase the number of companies it lists and may, in certain circumstances, trigger obligations on the part of the letter’s recipients — even if the company has not consented to the listing. The letters state that the securities will be listed 30 days after the date the notice was sent (generally, the end of September 2013).
Please contact us if you have received correspondence from the St. Petersburg Stock Exchange and have questions about how best to proceed.