QIWI Confirms Receipt of Notification From Nasdaq
29 Avril 2022 - 5:26PM
QIWI plc (NASDAQ and MOEX: QIWI) (“QIWI” or the “Company”), a
leading provider of cutting-edge payment and financial services in
Russia and the CIS, today confirms receipt of notification from the
Listing Qualifications Department of The Nasdaq Stock Market
("Nasdaq") that QIWI no longer complies with Nasdaq’s audit
committee requirement as set forth in the Nasdaq Listing Rule 5605,
as a result of Ms. Elena Titova’s resignation from QIWI’s board of
directors (the “Board”) and QIWI’s committees, including QIWI’s
audit committee (the “Audit Committee”), effective April 20, 2022
Following such resignation of Ms. Elena Titova
from the committees of QIWI, the Audit Committee currently consists
of two members, both of whom are independent. As a result, the
Company is not compliant with the Rule 5605(c)(2) of the Nasdaq
Rules, which requires a company to have an audit committee
comprised of at least three independent directors. The Company has
received a Nasdaq Staff Notification letter dated April 28, 2022,
in which the Company was provided with a cure period in order to
regain compliance as follows:
- until the earlier
of the Company’s next annual shareholders’ meeting or April 20,
2023
- or if the next
annual shareholders’ meeting is held before October 17, 2022, then
the Company must evidence compliance no later than October 17,
2022.
The Board has conducted a search for a qualified
replacement for Ms. Titova and expects to appoint a third
independent director to the Board and to the Audit Committee within
the stated cure period. If we fail do so, the Company could become
subject to delisting by Nasdaq. We will announce the new
appointment in due course.
About QIWI plc.
For over 20 years we stood at the fore point of
fintech innovations to facilitate and secure digitalization of
payments. Our mission is to connect our clients providing unique
financial and technological solutions to make the impossible
accessible and simple.
QIWI is a leading provider of cutting-edge
payment and financial services in Russia and the CIS. We offer a
wide range of products under several directions: QIWI payment and
financial services ecosystem for merchants and B2C clients across
digital use-cases, ROWI digital structured financial products for
SME, Flocktory services in marketing automation and advertising
technologies, and several other startups.
QIWI has an integrated proprietary network that
enables payment services across online, mobile and physical
channels and provides access to financial services for retail
customers and B2B partners. Millions of consumers and partners may
receive and transmit cash and electronic payments through our
network. The Company’s money remittance payment platform connects
businesses and people via thousands of service points across the
globe. Our customers and partners can use cash, stored value,
prepaid cards and other electronic payment methods in order to pay
for goods and services or transfer money across virtual or physical
environments interchangeably, as well as employ QIWI’s open API
infrastructure and highly customizable, sophisticated payment
solutions to serve their business or personal needs. Our ROWI brand
serves businesses with digital factoring, bank guarantees and other
financial solutions for SMEs.
For the FY 2020 QIWI had revenue of RUB 40.6
billion and an Adjusted EBITDA of RUB 13.8 billion. QIWI's American
depositary shares are traded on the NASDAQ and Moscow Exchange
(ticker: QIWI).
For more information, visit investor.qiwi.com.
Contact
Investor Relations
+357.25028091
ir@qiwi.com
QIWI (NASDAQ:QIWI)
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