SSA.L Regulatory News (SSA)

Sistema increases the volume of its share buyback programme

Moscow, 15 June 2021 - Sistema PJSFC (hereinafter "Sistema" or "the Corporation") (LSE: SSA, MOEX: AFKS), a publicly traded Russian investment company, announces an increase in the volume of its share buyback programme (the "Programme") to RUB 7.0 billion, with the Programme extended until 17 September 2022.

The Programme, launched on 17 September 2019, initially stipulated that Sistema's ordinary shares (the "Shares") were to be repurchased by a wholly owned subsidiary of Sistema for up to a maximum pecuniary amount of RUB 3.0 billion. The maximum number of Shares to be repurchased under the Programme was not to exceed 300 million. The Programme was to run until 29 February 2020, or until the total number of Shares or the total monetary value of Shares repurchased under the Programme reaches its stipulated maximum, whichever occurs first. In February 2020, the share repurchase programme was extended until 31 December 2020 (inclusive), and then in December 2020, until 31 December 2021 (inclusive).

The Programme is now extended until 17 September 2022 (inclusive) and its maximum pecuniary amount increased to RUB 7.0 billion. The maximum number of Shares to be repurchased since the launch of the programme is 343 million[1]. As of 11 June 2021, Sistema's wholly owned subsidiary has repurchased 128.8 million Shares for an aggregate amount of RUB 1.9 billion.

Under the Programme, Sistema's ordinary shares will be repurchased through a broker appointed by its wholly owned subsidiary.

Purchases may continue during both open periods and any closed periods to which Sistema is subject during the above mentioned period.

The repurchase of Shares under the Programme will be conducted in accordance with applicable laws and regulations.

Upon repurchase, the Shares will be used by Sistema for general corporate needs, including management incentive plans.

Sistema will report on the progress of the share repurchase Programme on its corporate website as well as through a regulatory information service. 

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Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets serving some 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 2020 was RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. 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.

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

[1] The maximum number of Shares is calculated on the basis of Shares' VWAP from 17 September 2019 to 11 June 2021