On March 15, Ozon Holdings PLC received a notification from The Nasdaq Stock Market LLC that the listing qualification staff decided to exclude from the listing AD companies, each representing one ordinary share of the company. This is stated in the company's message.
"We believe that we have fully complied and remain in full compliance with all applicable reporting obligations and the qualitative and quantitative criteria of the exchange listing and have fulfilled all additional disclosure requests from the exchange since the suspension of trading on February 28, 2022," the company said.
The decision to exclude employees from the list was made on the basis of Nasdaq's discretionary powers in light of the geopolitical circumstances affecting Russia and their potential impact on the company.
The Company may appeal the Exchange's decision to the hearing commission in accordance with the procedures. The company is considering an appeal.
Trading of ADA Ozon on the exchange was suspended on February 28, 2022 and remains suspended.
"Notification of exclusion from the list does not affect our business operations. We continue to actively grow and develop our core and related areas, as well as new products, as well as serve our sellers, buyers and various partners on our platform. We also note that Ozon is not subject to any sanctions from the US or EU authorities," the company emphasizes.
Ozon is a multicategory e—commerce platform. The site presents more than 150 million product names in 20 categories.
Ozon's net loss for the third quarter of 2022 amounted to 20.7 billion rubles, of which 10.8 billion rubles is a one–time effect from the recognition of a loss due to a fire at a warehouse in Novaya Riga in the Moscow region. Excluding this factor, the net loss decreased by 29% and amounted to 9.9 billion rubles. The company's turnover (GMV including services and excluding refunds) increased by 74% and amounted to RUB 188.1 billion. At the same time, the turnover of the marketplace, that is, sales of sellers, showed an increase of more than 2 times to 147.1 billion rubles. Gross profit increased 2.4 times and amounted to 36.6 billion rubles. Adjusted EBITDA amounted to 1.6 billion rubles against a negative indicator of 11.3 billion rubles a year earlier.
