SISTEMA ANNOUNCES THE BOARD'S RESOLUTIONS
Moscow, Russia – April 22, 2014 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, announced that its Board of Directors (the “Board”) has set the date for the Annual General Meeting of Shareholders (“AGM”) for June 28, 2014. The agenda of the AGM includes the following items:
- Approval of the procedures and order of the AGM;
- Approval of the annual report and annual accounting statements, including the profit and loss statement of the Company for 2013;
- Approval of the distribution of profit and the amount, terms, form and timing of the dividend payment for Sistema shares;
- Election of members of the Audit Commission;
- Election of members of the Company's Board of Directors;
- Approval of the Company's auditors.
The record date for shareholders eligible to participate in the AGM is May 16, 2014.
The Board is recommending to the AGM to set the total amount of dividend payment for Sistema's shares at RUB 19.879 billion, representing a payment of RUB 2.06 per ordinary share. Subject to approval by the AGM, dividend payments shall be settled by bank transfer into accounts of the shareholders specified in the register as of July 17, 2014. The dividend is due to be paid within a 10-day period following this date.
The Board resolved to include the election of members of Sistema’s Board as an agenda item for the AGM. The list of candidates to the Board will be prepared by the Board at its next meeting according to the procedure provided for by cl.7 of art.53 of the federal law On Joint-Stock Companies.
The Board also recommended to the AGM the appointment of CJSC Deloitte & Touche CIS as auditors of Sistema's RAS and US GAAP financial results.
The Annual General Meeting of Shareholders of Sistema JSFC will be held in the conference room at Sistema's office at: 13/1 Mokhovaya St., Moscow, Russia. The registration of the AGM participants will begin at 10.00 (Moscow time) on June 28, 2014.
The AGM materials will be available from May 28, 2014 on Sistema's website www.sistema.ru or by request from Sistema's head office.
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$ 35.9 billion for the full year of 2013, and total assets of US$ 43.2 billion as at December 31, 2013. 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.