The former Yandex NV required holders of Russian options to sell them before January 19.

Australia’s Computershare, which operates the Nebius options program through the EquatePlus platform, has established criteria to classify option holders as Russia Connected Persons (RCP). We are talking about program participants who reside permanently or temporarily in the country. Among EquatePlus users, this includes any person with a domicile or place of work in Russia, its tax resident or someone who is simply in that country, the letter states.

The presence of Russian citizenship is not a basis for recognizing a participant as a person associated with Russia. RCP will also not count participants whose address and/or tax residence is outside of Russia, Forbes writes.

In addition, Russians who have company shares in their account, transferred to it before December 16, 2022, can keep them there “as long as they want” or sell them at any time. Those who did not own Nebius titles until this date will no longer be able to keep them in this account.

“You can convert existing shares (transferred to the beneficial owner from the nominal holder – RB.RU) – if any: you will see the option to exercise/sell the option. There will be no opportunity to exercise and hold the option as holding shares in your account is prohibited. The deadline for the exercise and sale of the option is January 19, 2025,” the letter says.

However, the sale is only possible if the seller has a bank account outside of Russia and Belarus, as Computershare cannot make payments to these countries, Nebius warned. A company representative declined to comment; Forbes sent a request to Computershare.

• In the summer, Yandex NV sold Yandex’s Russian business to a consortium of investors and withdrew from the IT company’s shareholders, retaining its international business. At the same time, the company changed its name to Nebius Group. The company was headed by Yandex co-founder Arkady Volozh.

• Nebius’ activities are based on the development of artificial intelligence. In early December, the company announced that it had raised $700 million from Nvidia, venture fund Accel and investment firm Orbis. The money will be used to develop artificial intelligence infrastructure in the United States and other countries.

• In addition to AI, the company is developing other areas: Toloka (data labeling), Avride (unmanned vehicles), Tripleten (educational services) and a network of data centers.