On cancelling licences of professional securities market participant

On 24 September 2015, the Bank of Russia took a decision to cancel licences of professional securities market participant to carry out broker, dealer and depositary activity and securities management of MDS Broker, limited liability company (TIN: 7703632616).

The reasons to take such decision were the Company’s repeated violations within a year of the requirements of the Russian securities legislation.

Licence to carry out depositary activity shall be terminated from 25 November 2015. Starting 25 September 2015, the Company is not eligible for opening depositary accounts and nominal share holding. The Company must enable its customers to transfer securities to current accounts in the register of securities holders or to depositary accounts with depositaries until 25 November 2015. From 25 September 2015 till 25 November 2015, the Company’s depositors are entitled to submit corresponding requests to transfer their securities under the procedure established by the agreement (the Company’s conditions for conducting depositary activity). Upon the expiry of this term, the Company shall transfer customers’ securities to current accounts opened in the register of securities holders in compliance with the Russian legislation. Shall the Company fail to execute or improperly execute the customers’ requests or fail to receive requests for the transfer of securities, depositors are entitled to seek relief at law and/or address to the law enforcement agencies.

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24.09.2015 00.00.00