SSA.L Regulatory News (SSA)

29 Jun 2015 08:04

SISTEMA ANNOUNCES RESULTS OF ITS AGM AND BOARD OF DIRECTORS MEETING

Moscow, Russia – June 29, 2015 – Sistema JSFC (“Sistema” or the “Company”) (LSE: SSA), a 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 27, 2015.

The AGM approved the total dividend payment for Sistema's shares at RUB4.54 billion, representing a payment of RUB0.47 per ordinary share or RUB9.4 per GDR. Shareholders specified in the register as of July 16, 2015 will be entitled to receive a dividend payment. The dividend payments will be made within 10 working days from July 16, 2015.

The AGM also approved the Company’s annual report and financial statements for 2014, a new edition of the Regulation on Remuneration and Compensation for the Board members, new editions of the bylaws for the Annual General Meeting of Shareholders and for the Board of Directors of Sistema.

ZAO “Deloitte & Touche CIS” was appointed as Sistema’s Russian Accounting Standards and IFRS auditor for 2015.

The AGM also approved the following composition of the Board of Directors:

1. Vladimir Evtushenkov

2. Sergei Boev

3. Brian Dickie (Independent Director)

4. Andrei Dubovskov

5. Felix Evtushenkov

6. Dmitri Zubov

7. Patrick James Clanwilliam (proposed by a group of minority shareholders and nominated for the position of Independent Director at the Board meeting on April 18, 2015)

8. Robert Kocharyan (Independent Director)

9. Jeannot Krecke (Independent Director)

10. Peter Mandelson (Independent Director)

11. Roger Munnings (Independent Director)

12. Mikhail Shamolin

13. David Iakobachvili (Independent Director)

At the first statutory Board meeting following the AGM, the Board of Directors appointed Vladimir Evtushenkov as Chairman and Sergei Boev as Deputy Chairman of the Board.

The Board of Directors also approved a new composition of Sistema’s Management Board:

1. Mikhail Shamolin, President and CEO

2. Felix Evtushenkov, First Vice President, Head of Investment Portfolio

3. Sergei Drozdov, Senior Vice President, Head of the Corporate Governance Division

4. Vsevolod Rozanov, Senior Vice President, Chief Financial Officer

5. Andrey Terebenin, Senior Vice President, Head of Investment Portfolio

6. Ali Uzdenov, Senior Vice President, Head of Investment Portfolio

7. LevanVasadze, Vice President, Head of Investment Portfolio

8. Nikolay Vasilkov, Vice President, Head of Strategy Division

9. Elena Vitchak, Vice President, Head of HR Department

10. Leonid Monosov, Vice President, Head of Investment Portfolio

11. Oleg Mubarakshin, Vice President, Head of the Legal Division

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For further information, please visit www.sistema.com or contact:

Sistema is a 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, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the Company reported revenues of RUB 167.7 billion for the first quarter of 2015, and total assets of RUB 1.2trillion as at March 31, 2015. 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. 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.

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