24th Dec 2008 13:00
SISTEMA CONVENES EXTRAORDINARY GENERAL MEETING
AND PLANS 20 BILLION RUBLE BOND ISSUE
Moscow, Russia - December 24, 2008 - Sistema JSFC (LSE: SSA), the largest diversified public corporation in Russia and the CIS, which manages fast growing companies operating in the telecommunications, consumer and technology sectors, today announced that its Board of Directors has decided to convene an Extraordinary General Meeting of its shareholders and, separately, to raise RUR 20 billion through the issue and placement of unconvertible ruble denominated bonds.
The Extraordinary General Meeting of shareholders will be convened and votes cast remotely via proxy, with February 16, 2009 as the final date for receipt of ballots.
The new bond issue will comprise 20 million unconvertible interest-bearing bonds with a face value of RUR 1,000.00 per bond and a five year maturity. The new money raised by the issue will be used for refinancing existing facilities and general working capital purposes.
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| For further information, please visit www.sistema.com or contact: | ||||
| Sistema Investor Relations | Shared Value Limited | |||
| Pavel Kim | ||||
| Tel: +7 495 692 22 88 | Tel: +44 (0) 20 7321 5010 | |||
Sistema is the largest public diversified corporation in Russia and the CIS, which manages fast growing companies operating in the telecommunications, consumer and technology sectors, and has over 100 million customers. Sistema develops and manages market-leading businesses in selected industries, including telecommunications, technology, banking, real estate, retail, media, tourism and healthcare. Founded in 1993, the company reported revenues of US$ 12.6 billion for the first nine months of 2008, and total assets of US$ 32.0 billion as at September 30, 2008. Sistema's shares are listed under the symbol "SSA" on the London Stock Exchange, under the symbol "AFKS" on the Russian Trading System (RTS), under the symbol "AFKC" on the Moscow Interbank Currency Exchange (MICEX), 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 2008
Related Shares:
SSA.L