SSA.L Regulatory News (SSA)

Sistema announces results of AGM and Board of Directors meeting

Moscow, 1 July 2019 - Sistema PJSFC ("Sistema" or "the Corporation") (LSE: SSA, MOEX: AFKS), a Russian publicly traded diversified holding company, announces the results of its Annual General Meeting of shareholders (AGM) and a meeting of the Board of Directors, both of which took place on 29 June 2019.  

The AGM approved the distribution of RUB 1,061.5 million, or RUB 0.11 per ordinary share (RUB 2.2 per GDR), in dividends for FY 2018. The dividend record date will be 18 July 2019. Dividends will be paid within 10 business days from this date.  

The AGM elected the Board of Directors of Sistema as follows:  

1.       Vladimir Evtushenkov

2.       Anna Belova (as an independent director)

3.       Sergey Boev

4.       Andrey Dubovskov

5.       Felix Evtushenkov

6.       Ron Sommer

7.       Robert Kocharyan (as an independent director)

8.       Jeannot Krecké (as an independent director)

9.       Roger Munnings (as an independent director)

10.    Mikhail Shamolin

11.    David Iakobachvili (as an independent director)

The AGM approved AO Deloitte and Touche CIS as the auditor of Sistema's IFRS and RAS financial statements for 2019. 

At the meeting of the Board of Directors following the AGM, Vladimir Evtushenkov was elected as Chairman of the Board of Directors and Anna Belova as Deputy Chairman.

Commenting on the election of Anna Belova as Deputy Chairman of the Board of Directors, Sistema Board Chairman Vladimir Evtushenkov, said: "Anna Belova has a great deal of experience serving on the Boards of a number of companies. As an Independent Director of Sistema, she has consistently taken independent positions, in Board deliberations has insisted that a variety of strategic options are analysed and she has systematically advocated for the interests of the Corporation's minority shareholders. I look forward to continuing to work with Anna in her new role as the independent Deputy Chairman of the Sistema Board of Directors."

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Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2018 was RUB 777.4 bn; total assets equalled RUB 1.5 trn as of 31 December 2018. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.com