August 22, 2023 – Ozon Holdings PLC (NASDAQ, MOEX and AIX: “OZON”, thereafter referred to as “we”, “us”, “our”, “Ozon” or the “Company”), provides an update on the status of its appeal against the decision of the Nasdaq Hearings Panel (the “Panel”) upholding the determination of the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) to delist the Company’s American Depositary Shares (“ADSs”) from Nasdaq.
As disclosed in our press releases as of March 15, 2023, and March 22, 2023, the Staff notified us of its determination to delist our ADSs from Nasdaq in reliance on its discretionary authority under the Nasdaq Listing Rule 5101. The Company filed a request for a hearing to the Panel to appeal the delisting determination.
As disclosed in our press release as of June 7, 2023, we received a written decision of the Panel pursuant to which the Panel upheld the delisting determination of the Staff and denied the Company’s requests to lift the trading halt and reinstate trading of our ADSs on Nasdaq.
As disclosed in our press release as of June 22, 2023, the Company requested an appeal of the Panel decision to the Nasdaq Listing and Hearing Review Council (the “Review Council”).
On August 18, 2023, we received the decision of the Review Council, which affirmed the decision of the Panel.
Pursuant to the Nasdaq Rule 5825, the Board of Directors of Nasdaq may call the Review Council’s decision for review in connection with an upcoming Nasdaq Board meeting. Our ADSs will not be delisted from Nasdaq until all available review and appeal procedures and periods available under the Nasdaq Listing Rules have expired.
The Staff’s decision to delist our ADSs from Nasdaq does not impact our business operations.
The Company remains committed to acting in the best interests of all of its stakeholders, including investors, customers, merchants, our multiple business partners and employees to the best of our ability.
Ozon is a multi-category e-commerce platform operating in Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia, China and Turkey. Its fulfillment infrastructure and delivery network enable Ozon to provide its customers with fast and convenient delivery via couriers, pick-up points or parcel lockers. Its extensive logistics footprint and fast-developing marketplace platform allow entrepreneurs to sell their products across 11 time zones and offer customers wide selections of goods across multiple product categories. Ozon actively seeks to expand its value-added services such as fintech and other new verticals such as Ozon fresh online grocery delivery. For more information, please visit https://corp.ozon.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the current views of Ozon Holdings PLC (“we”, “our” or “us”, or the “Company”). All statements contained in this press release that do not relate to matters of historical fact disclosed in due course by the Company should be considered forward-looking statements.
These forward-looking statements are based on management’s current expectations. However, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties and other important factors and circumstances that may cause Ozon’s actual results, performance or achievements to be materially different from its expectations expressed or implied by the forward-looking statements, including conditions in the relevant capital markets, negative global or Russian political and economic conditions, potential negative developments in the COVID-19 pandemic, other negative developments in Ozon’s business or unfavorable legislative or regulatory developments. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. Please refer to our filings with the U.S. Securities and Exchange Commission concerning factors that could cause actual results to differ materially from those described in our forward-looking statements.
These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While Ozon may elect to update such forward-looking statements at some point in the future, Ozon disclaims any obligation to do so, even if subsequent events cause its views to change. These forward-looking statements should not be relied upon as representing Ozon’s views as of any date subsequent to the date of this press release.
The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company.