VimpelCom Announces Director Candidates Proposed For Election At Upcoming
AMSTERDAM, Nov. 19, 2012
AMSTERDAM, Nov.19, 2012 /PRNewswire/ --VimpelCom Ltd. ("VimpelCom" or
"Company") (NYSE: VIP), a leading global provider of telecommunications
services, announced today that its Supervisory Board has approved the
following slate of candidates for election to the Supervisory Board at the
Company's Annual General Meeting scheduled to be held on December 21, 2012
(the "Shareholders Meeting"): Jon Fredrik Baksaas, Andrei Baranov, Augie K.
Fabela II, Mikhail Fridman, Kjell Morten Johnsen, Dr. Hans-Peter Kohlhammer,
Yuri Musatov, Leonid Novoselsky, Alexey Reznikovich, Ole Bjorn Sjulstad,
Morten Karlsen Sorby, Sergei Tesliuk and Torbjorn Wist. The list of 13
candidates was based on nominations received from VimpelCom's two largest
shareholders, Telenor East Invest II AS and Altimo Cooperatief U.A. Telenor
and Altimo each nominated eight candidates, and both nominated the three
current independents on the Company's Supervisory Board, Messrs. Fabela,
Kohlhammer and Novoselsky.
Nine of the 13 candidates will be elected to the Company's Supervisory Board
at the Shareholders Meeting. Elections will be made by cumulative voting by
the Company's shareholders of record on November 20, 2012. Further details on
the agenda, the slate of nominees to the Supervisory Board mentioned above and
procedural matters related to the Shareholders Meeting will be made available
through an official notice to be distributed by VimpelCom to its shareholders
prior to the Shareholders Meeting.
Additionally, as previously disclosed, in light of the injunctions issued by
the Moscow Arbitration Court in relation to the claims by the Russian Federal
Anti-Monopoly Service ("FAS") against Telenor and Weather Investments II, the
Supervisory Board has determined that if the injunctions are not lifted prior
to November 27, 2012 it would be prudent to postpone the Shareholders Meeting.
In case the Shareholders Meeting is postponed, an announcement in that respect
will be issued on or around November 27, 2012.
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, including the timing of the Company's
Shareholders Meeting. 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 Shareholders Meeting when intended or succeed in any
challenges with respect to the FAS claim or injunction. There can also be no
assurance 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
Vimpel-Communications, 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 780 million people. VimpelCom provides services
under the "Beeline", "Kyivstar", "djuice", "Wind", "Infostrada" "Mobilink",
"Leo", "banglalink", "Telecel", and "Djezzy" brands. As of September 30, 2012
VimpelCom had 212 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.
Contact: Investor Relations: Gerbrand Nijman,
Investor_Relations@vimpelcom.com, +31 20 79 77 200 (Amsterdam), Media and
Public Relations: Bobby Leach, email@example.com, +31 20 79 77 200 (Amsterdam),
both of VimpelCom Ltd.
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