MOSCOW, April 12. /TASS/. The Bank of New York Mellon is going to terminate the depositary agreement in respect of the global depositary receipt (GDR) program of the O’Key group, the Russian retailer informs.

"The company "received a resignation notice from its depositary bank, the Bank of NY Mellon, for the Group’s GDRs," O’Key said.

The receipt of such notice does not mean the immediate termination of the GDR program, the retailer noted. The company has 90 days after receiving the notice to appoint a new depositary and at least 90 days to terminate the program if no successor is appointed.

"The Company’s decision made in regard to this matter and other material information will be announced in due course, when appropriate," it added.

The O’Key Group managed 77 hypermarkets and 220 discounters as of the end of 2023.