16th Sep 2009 10:00
SISTEMA SUBMITS A MANDATORY OFFER TO ACQUIRE MINORITY SHARES IN BASHNEFT
Sistema (LSE:SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, today announced that it has submitted a mandatory offer to the Federal Financial Markets Service ("FFMS") to acquire minority shares in ANK Bashneft JSC, in accordance with the Russian Federal Law on Joint Stock Companies.
Sistema acquired a controlling stake in ANK Bashneft JSC in April 2009. According to the Russian legislation, Sistema is required to make a mandatory buyout offer to minority shareholders in Bashneft. The details of the offer will be published following the receipt of the approval from FFMS.
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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$ 16.7 billion and US$ 2.8 billion for the full year 2008 and the first quarter of 2009 respectively, 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.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of Sistema, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of Sistema.
Information contained in this press release does not constitute a public offer or an advertisement of securities in Russia, is not an offer, or an invitation to make offers, to purchase any securities in Russia.
This press release is not for distribution, directly or indirectly, in or into the United States. This press release is not an offer for sale of any securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended, and the rules and regulations thereunder. Sistema has not registered and does not intend to register any portion of any offering of securities in the United States or to conduct a public offering of any securities in the United States.
This document does not constitute an offer of securities to the public in the United Kingdom. This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') and (iii) high net worth entities, and other persons to whom it may Lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as 'relevant persons'). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the 'Prospectus Directive') this communication is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.
Copyright Business Wire 2009
Related Shares:
SSA.L