26th May 2015 07:00
AGM OF SISTEMA TO ELECT NEW COMPOSITION OF THE BOARD
Moscow, Russia – May 26, 2015 – Sistema JSFC (“Sistema” or the “Company”) (LSE: SSA), a publicly-traded diversified holding company in Russia and the CIS, announces that its Board of Directors held a meeting on May 23, 2015, where it approved a list of 13 nominees for the election to the Company’s Board of Directors at the Annual General Meeting of shareholders of Sistema (“AGM”) on June 27, 2015. Seven out of 13 nominees meet the independent criteria set by the Joint-Stock Companies Law, the Moscow Stock Exchange requirements and the Corporate Governance Code of the Russian Federation.
The list of nominees to the new Board of Directors is as follows:
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)
The Board also recommended the AGM to approve 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.
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For further information, please visit www.sistema.com or contact:
| Investor Relations EvgeniyChuikov Tel: +7 (495) 692 11 00 | Public Relations Sergey Kopytov Tel.: +7 (495) 228 15 27 |
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 US$ 16.6 billion for the full year of 2014, and total assets of US$ 20.7 billion as at December 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. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150525005049/en/
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