Form 6-K MOBILE TELESYSTEMS PUBLI For: Jul 14


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

Report
of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of

the Securities
Exchange Act of 1934

 

For the month of July, 2022

 

Commission File Number: 001-15094

 

Mobile TeleSystems Public Joint Stock Company

(Translation of registrant’s name
into English)

 

4, Marksistskaya Street
Moscow 109147
Russian Federation

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will
file annual reports under cover Form 20-F or Form 40-F.

 

Form
20-F 
x Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

 

 

 

 

Press Release

 

MTS
Receives Delisting Notice from the New York Stock Exchange

 

July 14, 2022

 

MOSCOW,
Russia – Mobile TeleSystems Public Joint Stock Company (“MTS” or “the Company”) (NYSE: MBT; MOEX: MTSS),
Russia’s largest mobile operator and a leading provider of media and digital services, was notified by the New York Stock Exchange
(“NYSE”), that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary receipts
of the Company (“ADRs”), each representing two ordinary shares of the Company. The NYSE reached the decision to delist the
Company’s ADRs pursuant to Section 802.01D of the NYSE Listed Company Manual in light of the Company’s announcement on
June 9, 2022 that it had informed JPMorgan Chase Bank, N.A., the depositary under its ADR program, of its intention to terminate the deposit
agreement relating to the ADR program (the “Deposit Agreement”) effective as of July 13, 2022. Trading in the Company’s
ADRs had been halted since February 28, 2022 and was suspended before the market open on July 13, 2022.

 

The
Company has a right to a review of this determination by a Committee of the Board of Directors of the NYSE. However, MTS does not intend
to appeal the determination in light of the current Russian legislation and the decision of the Russian Government Commission on Monitoring
Foreign Investment that provides for the continuation of circulation of MTS’s ADRs only until July 12, 2022 (inclusive). Therefore,
it is expected the Company’s ADRs will be delisted.

 

Under
the terms of the Deposit Agreement, the conversion of MTS’s ADRs into MTS’s ordinary shares shall be completed within six
months after July 12, 2022, i.e., by January 13, 2023.

 

***

 

For further information, please contact in Moscow:

Investor Relations Department

Mobile TeleSystems Public Joint Stock Company

Tel: +7 495 223 2025

E-mail: [email protected]

 

Learn more about MTS. Visit the official blog of the Investor Relations
Department at https://ir.mts.ru/news_and_events/technology_news

 

* * *

 

Mobile TeleSystems Public Joint Stock Company
(“MTS” – NYSE: MBT; MOEX: MTSS), Russia’s leading mobile connectivity and digital services provider, offers a range
of mobile, fixed-line, and digital services. We serve over 80 million mobile subscribers in Russia, Armenia, and Belarus, and about 9
million customers in Russia of fixed-line services, including fixed voice, broadband internet, and pay TV. To keep pace with evolving
customer demand, MTS is redefining what telecommunications services are by offering innovative products beyond its core network-related
businesses in various tech segments, including big data, financial and banking services, internet of things, OTT, cloud computing, systems
integration and e-commerce. We leverage our market-leading retail network as a platform for customer services and sales of devices and
accessories. MTS maintains its leadership in the Russian mobile market in terms of revenue and profitability. MTS is majority-owned by
Sistema PJSFC. Since 2000, MTS shares have been listed on the New York Stock Exchange and since 2003 on the Moscow Exchange. For more
information, please visit: www.ir.mts.ru.

 

* * *

 

Some of the information in this press release
may contain projections or other forward-looking statements regarding future events or the future financial performance of MTS, as defined
in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements
by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,”
“will,” “could,” “may” or “might,” and the negative of such terms or other similar expressions.
We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not undertake
or intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence
of unanticipated events. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically
the Company’s most recent Form 20-F. These documents contain and identify important factors, including those contained in the section
captioned “Risk Factors” that could cause the actual results to differ materially from those contained in our projections
or forward-looking statements, including, among others, the severity and duration of current economic and financial conditions, including
the ongoing geopolitical situation relating to the situation in Ukraine, the expansion of sanctions and restrictive measures imposed on
the Russian Federation and a number of Russian legal and natural person by the United States, European Union, United Kingdom and certain
other states, responsive measures of regulatory, legislative and other nature made by Russian authorities as a reaction to foreign sanctions
and restrictive measures, volatility in interest and exchange rates (including the decline in the value of the Russian ruble against the
U.S. dollar and the euro), commodity and equity prices and the value of financial assets; impact of decisions by a number of foreign suppliers
of goods, works, services and software to suspend or stop providing the supply of goods, works, services and software to Russian legal
and natural persons the impact of Russian, U.S. and other foreign government programs to restore liquidity and stimulate national and
global economies, our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we
do not do so, strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses, potential
fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures, rapid technological
and market change, acquisition strategy, risks associated with telecommunications infrastructure, governmental regulation of the telecommunications
industries and other risks associated with operating in Russia and the CIS, volatility of stock price, financial risk management and future
growth subject to risks, as well as potential aggravation of existing risk factors or appearance of new.

 

* * *

 

 

SIGNATURES

 

Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

 

  MOBILE TELESYSTEMS PUBLIC JOINT STOCK COMPANY
     
  By: /s/ Vyacheslav Nikolaev
    Name: Vyacheslav Nikolaev
    Title: CEO
       
Date:
July 14, 2022