HeadHunter ADSs will be delisted from Nasdaq

HeadHunter Group 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, each representing one ordinary share of the company from Nasdaq: “As disclosed in our press releases as of March 20, 2023 and March 22, 2023, the Listing Qualifications Staff notified us of its determination to delist the company’s 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 Nasdaq Hearings Panel to appeal the delisting determination, which took place on April 27, 2023. On June 6, 2023, we received the Hearings Panel’s written decision, pursuant to which the Hearings Panel upheld the delisting determination. The company does not intend to request that the Final Delisting Decision be reviewed by the Hearings Panel’s appeal body, as it would not be feasible to disentangle the company’s operations from Russia to the extent required for addressing the concerns raised by the Hearings Panel. Nasdaq announced a trading halt in the company’s ADSs on February 28, 2022. Following the Final Delisting Decision, trading in our ADSs on Nasdaq was suspended on June 8, 2023, and our ADSs will be delisted from Nasdaq… The trading of the company’s ADSs on the Moscow Exchange is unaffected and continues as usual. The company is also considering several strategic alternatives which may be carried out following the delisting, potentially including providing liquidity to company’s shareholders, redomiciling or restructuring the company by moving its corporate governance to Russia, with the Moscow Exchange remaining the primary trading market for the company’s shares. To date, the company has not made any definitive plans. The Final Delisting Decision does not impact HeadHunter’s business operations or financial position, and we remain focused on maintaining business growth. Neither the company nor any of its subsidiaries is directly subject to any sanctions imposed by authorities of the United States, the United Kingdom, the European Union or other countries.”