25th Sep 2012 16:23
Not for release, publication or distribution in the United States, Australia, Canada or Japan.
IMPORTANT DECISIONS OF SISTEMA BOARD OF DIRECTORS
Moscow, Russia - September 25, 2012 - Sistema JSFC ("Sistema" or the "Company") (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that its Board of Directors has approved a new composition of Sistema's Management Board.
The Management Board comprises the following members elected to the Board:
Mikhail Shamolin, President and Chairman of the Management Board; Anton Abugov, First Vice President; Christopher Alan Baxter, Senior Vice President; Alexey Buyanov, Senior Vice President; Vitchak Elena, Executive Vice President; Anna Goldin, Vice President; Sergei Drozdov, Senior Vice President; Felix Evtushenkov, First Vice President; Leonid Monosov, Executive Vice President; Andrey Terebenin, Vice President; Kirill Tyurdenev, Executive Vice President; Ali Uzdenov, Vice President; Alexey Shavrov, Executive Vice President.Furthermore, the Company's Board of Directors approved a decision to place a new bond issue by public subscription, comprising series 01, 02 and 03 three-year unconvertible interest-bearing bonds. Each series will consist of 10 million bonds with a face value of RUB 1,000 per bond. The date of the bond placement will be announced in due course.
The Board of Directors also convened an Extraordinary General Meeting of shareholders ("EGM"). The EGM will be held by proxy and the final date for the receipt of ballots is November 1, 2012. The agenda for the meeting will include a Board proposal to amend the Company's Charter in order to allow the Company to increase share capital by issuing additional 386 million ordinary shares with a par value of RUB 0.09 per share.
The proceeds from the bond issue, and possibly an additional share issue if such a decision is taken, are expected to be used for general corporate purposes and also to finance potential acquisitions in different sectors, such as transportation, petrochemicals, agriculture, natural resources and consumer.
Sistema would like to retain flexibilty in terms of financing options for corporate purposes and/ or if opportunity arises in different sectors such as such as transportation, petrochemicals, agriculture, natural resources and consumer.
Shareholders registered on the record date of September 26, 2012 will be eligible to participate in, and vote at, the EGM by proxy. The EGM materials will be available from October 1, 2012 on Sistema's website at www.sistema.com or by request from Sistema's head office during working hours.
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For further information, please visit www.sistema.com or contact:
| Investor Relations Evgeniy Chuikov Tel.: +7 (495) 692 1100 | Public Relations Vsevolod Sementsov Tel.:+7 (495) 730 1705 |
Sistema is the largest diversified public financial corporation 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, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of US$ 8.1 billion for the second quarter of 2012, and total assets of US$ 43.6 billion as at June 30, 2012. 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 MICEX-RTS Stock Exchange, and under the symbol "SIST" on the Moscow Stock Exchange (MSE). Sistema was ranked number 315 in the 2011 edition of the Fortune Global 500 list. Website: www.sistema.com
These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). These materials are not an offer or solicitation to purchase or subscribe for securities in the United States. Securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined under Regulation S under the U.S. Securities Act of 1933) absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended.
This document is only being distributed to and is only directed at (A) persons located outside the European Economic Area or, if located within the European Economic Area, qualified investors within the meaning of the Prospectus Directive as implemented in the relevant member state of the European Economic Area and (B) persons who are outside the United Kingdom or, (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (A) and (B) above together being referred to as "relevant persons"). Any securities described herein, if issued, will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
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Copyright Business Wire 2012
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