Ozon Holdings PLC provided the following update on the status of its appeal against the determination of the Listing Qualifications Staff of The Nasdaq Stock Market to delist the company’s American Depositary Shares from Nasdaq: “As disclosed in our press releases as of March 15, 2023, and March 22, 2023, the Listing Qualifications Staff notified us of its determination to delist our ADSs from Nasdaq in reliance on its discretionary authority under the Nasdaq Listing Rule 5101 in light of the geopolitical circumstances affecting Russia and their potential impact on the company. The company filed a request for a hearing to the Nasdaq Hearings 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. On June 21, 2023, the company requested an appeal of the Panel decision to the Nasdaq Listing and Hearing Review Council. Under the Review Council’s appeal instructions, the written appeal proceedings will take place in the course of July, following which the Review Council will issue its decision. Our ADSs will not be delisted from Nasdaq until the appeal process as set out in the Nasdaq Listing Rules is completed. 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.”
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