MTS accepts additional ADS

Russian telecommunications operator PJSC MTS (NYSE: MBT) (MOEX: MTSS) has amended its depositary agreement to provide MTS´s depositary bank, JPMorgan Chase Bank, N.A., the ability to accept additional deposits of up to 87,929,284 MTS shares, represented by 43,964,642 additional American depositary shares (ADS) on an equitable basis, the company said.

Under recent changes to its depositary agreement, MTS and its depositary have established procedures to process future deposits to provide equal opportunity for interested investors to deposit shares under the depositary agreement.

For every two shares accepted by the depositary for deposit at the custodian, the depositing investor (or such person or entity directed by such depositing investor) will receive one ADS.