VimpelCom Postpones Dividend Payment Decision and Announces Date for AGM
AMSTERDAM, May 31, 2012
AMSTERDAM, May 31, 2012 /PRNewswire/ --VimpelCom Ltd. ("VimpelCom" or the
"Company") (NYSE: VIP), a leading global provider of telecommunications
services, announces that in light of injunctions issued by the Moscow
Arbitration Court (including the prohibition on the payment of dividends by
the Company's wholly-owned Russian subsidiary OJSC "Vimpel-Communications") in
relation to the claims by the Russian Federal Anti-Monopoly Service ("FAS")
against Telenor and Weather II:
oThe Supervisory Board of the Company considers it prudent and in the best
interests of VimpelCom to postpone the payment and cancel the June 1, 2012
record date of the final dividend relating to the Company's 2011 results.
The Supervisory Board of the Company will make a decision whether to pay
the final 2011 dividend at a later date and will set a new record dateas
oThe Company plans to hold its annual general shareholders meeting ("AGM")
in December 2012, with the exact date to be notified by the Supervisory
oThe Company will continue to assess the situation as further developments
This release contains "forward-looking statements," as the phrase is defined
in Section 27A of the Securities Act and Section 21E of the Exchange Act,
relating to the FAS claim and related injunctions, the impact of the claim and
injunctions on the VimpelCom Group, the timing of the Company's AGM, and the
timing and amount of future payments of dividends by VimpelCom. These
forward-looking statements are based on management's best assessment of the
Company's legal position and the Company's understanding of current
circumstances. The actual outcome may differ materially from these statements
and there can be no assurance that VimpelCom will be able to hold its AGM when
intended, will be able to pay all or part of the postponed dividends, succeed
in any challenges with respect to the FAS claim or injunction and that the
determination or postponement of determination by the court with respect to
the FAS claim and injunction appeals or any challenges made by VimpelCom to
the FAS claim or injunction appeals will not have a material adverse affect on
VimpelCom resulting from, among other things, its continued inability to
receive dividends or other distributions from OJSC VimpelCom or the suspension
or termination of material licenses or permits held by OJSC VimpelCom, denial
of new licenses and permits or other adverse actions by Russian regulators.
Certain factors that could cause actual results to differ materially from
those discussed in any forward-looking statements include the risk factors
described in the Company's Annual Report on Form 20-F for the year ended
December 31, 2011 and other public filings made by the Company with the SEC,
which risk factors are incorporated herein by reference. The Company disclaims
any obligation to update developments of these risk factors or to announce
publicly any revision to any of the forward-looking statements contained in
this release, or to make corrections to reflect future events or developments.
VimpelCom is one of the world's largest integrated telecommunications services
operators providing voice and data services through a range of traditional and
broadband mobile and fixed technologies in Russia, Italy, Ukraine, Kazakhstan,
Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Cambodia, Laos, Algeria,
Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic and Canada.
VimpelCom's operations around the globe cover territory with a total
population of approximately 782 million people. VimpelCom provides services
under the "Beeline," "Kyivstar," "djuice," "Wind," "Infostrada" "Mobilink,"
"Leo," "banglalink," "Telecel," and "Djezzy" brands. As of March 31, 2012
VimpelCom had 209 million mobile subscribers on a combined basis. VimpelCom is
traded on the New York Stock Exchange under the symbol (VIP). For more
information visit: http://www.vimpelcom.com
SOURCE VimpelCom Ltd.
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