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EEII AG
Net Asset Value • Apr 20, 2023
871_rns_2023-04-20_1697934d-ef30-438e-a10f-b6ba94c8e5a4.html
Net Asset Value
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News Details
Ad-hoc | 20 April 2023 18:00
EEII AG: NAV Adjustment
EEII AG / Key word(s): Miscellaneous
20-Apr-2023 / 18:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad-Hoc announcement pursuant to Art. 53 Listing Rules: NAV Adjustment
Zug, April 20 2023
EEII AG: NAV Adjustment
The 742,800 Gazprom ADRs held by EEII prior to Russia’s invasion of Ukraine were suspended from international trading in Q1 2022 and later delisted. In Q3 2022, the ADRs were exchanged for 1,485,000 PJSC Gazprom shares (ticker: GAZP). The GAZP shares are denominated in Russian rubles (RUB) and are traded exclusively on the Moscow Stock Exchange (MICEX). UBS AG, Switzerland, continues to act as custodian. The custodian bank shows the last traded RUB value of the PJSC Gazprom shares on the MICEX on the EEII custody account statement. (as of 31.12.2022: RUB 162.50).
As of the date of this announcement, even after extensive research on our part, it is unclear whether sanctions imposed by the West against Russia coupled with any counter-sanctions, decrees or regulatory decisions in Russia or the interpretation of these sanctions and legal circumstances by the banks involved will allow a delivery, sale or transfer of the shares and/or any proceeds from the sale. In view of these circumstances, the Company revalues this investment at a discount of 99% compared to the MICEX stock exchange price published by Bloomberg (RUB 182.21 as of April 19, 2023).
On this basis, the NAV as of April 19, 2023 amounts to CHF 0.24 per share.
Further information:
Victor L. Gnehm, Chairman (+ 41 41 729 20 34)
EEII is listed on the Swiss Exchange (SIX) (Bloomberg: EEII SW Equity).
End of Inside Information
| Language: | English |
| Company: | EEII AG |
| Alpenstrasse 15 | |
| 6304 Zug | |
| Switzerland | |
| Phone: | +41 41 729 42 80 |
| Fax: | +41 41 729 42 29 |
| E-mail: | [email protected] |
| Internet: | www.eeii.ch |
| ISIN: | CH0007162958 |
| Valor: | 940179 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1613221 |
| End of Announcement | EQS News Service |