16th Jul 2010 07:15
FOR IMMEDIATE RELEASE July 16, 2010
SISTEMA BOARD OF DIRECTORS' ALLOCATED SHAREHOLDINGS
Moscow, Russia - July 16, 2010 - Sistema (the "Company") (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder in companies operating in different industries, today announced changes and new allocations to the Sistema Board of Directors' shareholdings in the Company.
In line with the remuneration structure for the members of Sistema Board of Directors, shareholdings in the Company of seven members have been increased by 89,139 shares, and three Directors have been awarded their first allocation of shares with two being granted 93,237 shares each and one receiving 89,139 shares. Each allocation represents approximately 0.0009% of 9,650,000,000 total shares outstanding. Based on the closing GDR price on the London Stock Exchange as of July 15, 2010 of US$ 23.86 per GDR, this equates to an indicative value of US$ 1.1 million.
Chairman of the Board Vladimir Evtushenkov's shareholding in the Company has increased from 64.1812 % to 64.1821 % Independent Director Evgeny Novitsky's shareholding in the Company has increased from 1.9929 % to 1.9938% Director Alexander Goncharuk's shareholding in the Company has increased from 1.8891% to 1.8900 % Deputy Chairman of the Board Dmitry Zubov's shareholding in the Company has increased from 0.8788% to 0.8797% Director Vyacheslav Kopiev's shareholding in the Company has increased from 0.0531% to 0.0540% Director Dr. Ron Sommer's shareholding in the Company has increased from 0.0033% to 0.0042% Deputy Chairman of the Board Sergey Cheremin's shareholding in the Company has increased from 0.0017% to 0.0026% Director, President and CEO Leonid Melamed, who previously did not hold any shares, was awarded 0.0009 % of the outstanding share capital Director Rajiv Mehrotra, who previously did not hold any shares, was awarded 0.0009 % of the outstanding share capital Independent Director Robert Kocharyan, who previously did not hold any shares, was awarded 0.0009 % of the outstanding share capital.***
For further information, please visit www.sistema.com or contact:
| Sistema Investor Relations | Shared Value Limited | |||||
| Pavel Kim | Larisa Kogut-Millings | |||||
| Tel: +7 495 692 22 88 | Tel: +44 (0) 20 7321 5010 | |||||
Sistema is the largest public diversified financial corporation in Russia and the CIS, which manages 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$ 6.2 billion for the first quarter of 2010, and total assets of US$ 42.6 billion as at March 31, 2010. 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 RTS Stock Exchange, under the symbol "AFKC" on the MICEX Stock Exchange, and under the symbol "SIST" on the Moscow Stock Exchange (MSE).
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.
Copyright Business Wire 2010
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