31st Jul 2009 15:00
Moscow, Russia Sistema (LSE:SSA), the largest diversified public financial corporation in Russia and the CIS, which manages large companies operating in different industries, today announced changes to the shareholdings in the Company of the members of its Board of Directors.
In line with the approved policy for the remuneration and reimbursement of Sistema Board Directors, each member's shareholding in the Company has been increased and now stands as follows:
Vladimir Evtushenkov, Chairman of the Board, has been awarded 164,773 shares and his shareholding in the Company has increased from 62.1284% to 62.1301% Evgeny Novitsky, Board Director, has been awarded 164,773 shares and his shareholding in the Company has increased from 1.9912% to 1.9929% Alexander Goncharuk, Deputy Chairman of the Board, has been awarded 164,773 shares and his shareholding in the Company has increased from 1.8874% to 1.8891% Alexander Gorbatovsky, Independent Board Director, has been awarded 164,773 shares and his shareholding in the Company has increased from 1.7846% to 1.7863% Dmitry Zubov, Deputy Chairman of the Board, has been awarded 164,773 shares and his shareholding in the Company has increased from 0.8771% to 0.8788% Vyacheslav Kopiev, Deputy Chairman of the Board, has been awarded 164,773 shares and his shareholding in the Company has increased from 0.0514% to 0.0531% Dr. Ron Sommer, Board Director, has been awarded 172,348 shares and his shareholding in the Company has increased from 0.0015% to 0.0033% Steven Newhouse, Independent Board Director, has been awarded 172,348 shares and his shareholding in the Company has increased from 0.0015% to 0.0033% Deputy Chairman of the Board Sergey Cheremin, and Independent Board Director Robert Skidelsky, both of whom did not previously hold any shares in the Company, have been awarded 164,773 and 172,348 shares, respectively, each representing 0.0017% of the total number of outstanding shares.Based on the closing price on the London Stock Exchange on July 30, 2009 of US$ 14.50 per GDR (each GDR representing 20 ordinary shares), the total value of the share awards is US$ 1,211,080.
The shares that have been awarded are existing shares that have been held in treasury accounts by Sistema for the purpose of such awards. There is therefore no change in the total outstanding share capital following these awards.
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-tech, oil and energy, radio and aerospace, banking, real estate, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of US$ 2.8 billion for the first quarter of 2009, and total assets of US$ 27.1 billion as at March 31, 2009. 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 2009
Related Shares:
SSA.L