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Exchange date of American Depositary Shares extended till Jan 10: Vedanta


New Delhi: Vedanta Limited on Monday mentioned it has decided to expand the date in which holders can cave in their American Depositary Shares to the depository in exchange for the main equity shares of the company from January 8 to Present cards 10 next year. Slots of American Depositary Shares (ADS) can surrender their ADSs at any time on or maybe prior to January 10, 2022, Vedanta mentioned.

“In order to offer more time to the ADVERTISING holders, the Company features decided to extend this date…,” that said in a processing.

Starting on or maybe about January 11, 2022, the depository may attempt to sell off the then-remaining stocks and shares held on deposit upon the phrases described in the detect of termination of ADS program as expected for in the deposit agreement, it additional.

Vedanta had earlier announced that the deposit agreement under which often its ADSs ended up issued was over effective close of trading on NEW YORK STOCK EXCHANGE on November 6, 2021.

Under this terms of this deposit agreement, slots of company’s ADSs can surrender his or her American depositary stocks and shares to the depositary in turn for the underlying money shares of this company.

This requires which will holders who cave in their ADSs to get cancellation must have, or maybe establish, a custodian or brokerage (demat) account in The indian subcontinent to receive such money shares prior to giving up their ADSs for you to Citibank, N.Some sort of. for cancellation.

Establishing such custodian or brokerage (demat) account may be controlled by delay as a result of operational procedures so that as the opening of such account can be subject to regulatory authorizations, verifications, and certifications in India.

“…since ADSs have already been delisted from the Nyc Stock Exchange useful close of trading on November 6, 2021, no otc market trading of ADSs is authorized under Indian laws,” it mentioned.

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