SISTEMA ANNOUNCES RESULTS OF ITS AGM AND BOARD OF DIRECTORS MEETING
Moscow, Russia – June 30, 2014 – Sistema JSFC (“Sistema” or the “Company”) (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, today announces the results of its Annual General Meeting of shareholders (“AGM”) and its Board of Directors meeting, held on June 28, 2014.
The AGM approved the total amount of dividend payment for Sistema's shares at RUB19.9 billion, representing a payment of RUB2.06 per ordinary share. The dividend payments will be paid by July 31, 2014 by bank transfer into accounts of the shareholders specified in the register as of July 17, 2014.
The AGM also approved the composition of the Board of Directors previously nominated by the Board.
ZAO “Deloitte & Touche CIS” was appointed as Sistema’s Russian Accounting Standards and US GAAP auditor for 2014.
At the first statutory Board meeting following the AGM, the Board of Directors appointed Vladimir Evtushenkov as Chairman and Alexander Goncharuk and David Iakobachvili as Deputy Chairmen of the Board.
The Board of Directors also approved amendments to the Company’s documentation for series BO-01, BO-02 and BO-03 bonds in accordance with the provisions of the Federal Law No. 210-FZ “On Amendments to the Federal Law on the Securities Market and to Certain Russian Laws and Regulations”, which come into force on July 1, 2014.
For further information, please visit www.sistema.com or contact:
Tel.: +7 (495) 692 1100
Tel.: +7 (495) 228 15 36
Sistema is the largest publicly-traded diversified holding company in Russia and the CIS, which invests in and is a major shareholder of companies serving over 100 million customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the Company reported revenues of US$ 8.2 billion for the first quarter of 2014, and total assets of US$ 41.5 billion as at March 31, 2014. Sistema’s global depository receipts are listed under the symbol “SSA” on the London Stock Exchange. Sistema’s ordinary shares are listed under the symbol “AFKS” on the Moscow Exchange. Sistema was ranked number 308 in the 2013 edition of the Fortune Global 500 list. Website: www.sistema.com
The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.
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 Sistema. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might” 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. In addition, there is no assurance that the new contracts entered into by our subsidiaries referenced above will be completed on the terms contained therein or at all. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.