Moscow Exchange Financial Growth Presentation
Dividend payments for DR holders
FX rate determination for dividends
FX rates for conversion of dividends are
determined in a non-transparent manner
According to information from notices for
DR holders³:
Custodian DR issuer has no obligation to
obtain the "best price" for any FX Trade
Local Shares
DR
Issuer
Record
date
LSR Group
12-May-20
Payable
date
26-May-20 70.8
FX rate¹
Payable
FX rate²
Diff.
date
2-Jun-20
71.9
1.5%
Acron
9-Jun-20
24-Jun-20
69.4
6-Jul-20
70.4
1.3%
The conversion rate reflects a foreign
currency transaction ("FX
executed by the Custodian
principal counterparty and not as agent,
fiduciary or broker
MMK
17-Jun-20
7-Jul-20
70.8
14-Jul-20
71.7
1.3%
Trade")
-
DR issuer as
Rosseti
15-Jun-20
6-Jul-20
71.2
13-Jul-20
71.9
0.9%
Rosneft
15-Jun-20
3-Jul-20
71.1
14-Jul-20
71.7
0.9%
Tatneft
30-Dec-19
24-Jan-20
61.8
31-Jan-20
62.2
0.6%
PhosAgro
6-Jul-20
24-Jul-20
71.7
31-Jul-20
72.0
0.4%
DR holders received their dividends one week later compared to holders of the ordinary shares
| Payable date for
ordinary shares
in RUB
Date of notice and
determination of FX rate
for RUB to USD conversion
4
5
☑
MOSCOW
EXCHANGE
1
Source: BNY Mellon, Deutsche Bank, JP Morgan, Citi, Moscow Exchange. Data as of 14.08.2020
Average weighted USD/RUB FX rate at Moscow Exchange
2
FX rate for dividends conversion
3
Publicly available information on the Custodian - DR issuer web site
7
Days
Λ
i Payable date for DR
in USD
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