8th Jun 2012 14:15
RTI ANNOUNCES THE FINAL RESULTS OF THE VOLUNTARY TENDER OFFER FOR SITRONICS' SHARES
Moscow, Russia - June 8, 2012 - Sistema JSFC ("Sistema") (LSE: SSA), the largest diversified publicly-traded investment company in Russia and the CIS, today announces that OJSC RTI ("RTI"), a subsidiary of Sistema, has reported the final results of its Voluntary Tender Offer ("VTO") for JSC SITRONICS shares ("SITRONICS").
Pursuant to the terms of the VTO, originally announced on March 12, 2012, RTI has completed and fully paid for the acquisition of 3,476,219,122 of SITRONICS' ordinary shares, including shares underlying the SITRONICS' Depositary Receipts, comprising approximately 36.41% of SITRONICS' share capital.
This brings RTI's total ownership stake in SITRONICS to 99.48% of SITRONICS' share capital.
RTI intends to initiate a statutory squeeze-out procedure under Russian law to acquire the remaining 0.52% of SITRONICS' ordinary shares.
RTI also intends to discuss with SITRONICS the start of delisting procedures with respect to the SITRONICS' shares and Depositary Receipts from the Russian stock exchanges and the London Stock Exchange, respectively. Further information on the squeeze-out procedures and the delisting will be announced in due course.
The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.
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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 publicly-traded investment company 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$ 7.9 billion for the first quarter of 2012, and total assets of US$ 47.3 billion as at March 31, 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 342 in the 2010 edition of the Fortune Global 500 list. Website: www.sistema.com
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. 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 JSFC Sistema and/or any of its subsidiaries and affiliated companies, 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 shares or securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies.
Copyright Business Wire 2012
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