The following information is based on information published by The Bank of New York Mellon, Issuer of MMC Norilsk Nickel ADRs.
The Bank of New York has announced that it will change the current ratio on its American Depositary Receipts (ADRs) based on MMC Norilsk Nickel from one (1) ADR representing one (1) Deposited Share to ten (10) ADRs representing one (1) Deposited Share.
To effect the above-mentioned ratio change on the ADRs, the Depositary will execute a 900% stock distribution to the ADR holders of record. ADR holders will receive nine (9) additional ADRs for every one (1) ADR held on record. The ADR Record date will be 18 February with a distribution date of 19 February 2008. The ADR description will be amended from 20 February 2008.
This ratio change is not a result of any corporate action on the deposited shares of JSC MMC Norilsk Nickel. EDX London will carry out a recalculation of options and futures in MMC Norilsk Nickel.
