SSA: JSFC Sistema: Notice of AGM
UK Regulatory Announcement
SISTEMA'S BOARD ANNOUNCES DATE OF AGM AND RECOMMENDS DIVIDEND PAYMENT
Moscow, Russia - April 23, 2013 - Sistema JSFC ("Sistema") (LSE: SSA), the
largest publicly-traded diversified holding company in Russia and the CIS,
today announces that its Board of Directors (the "Board") has set the date for
the Annual General Meeting of Shareholders ("AGM") for June 29, 2013.
The agenda of the Meeting includes the following items:
*Approval of the Meeting's procedures and order;
*Approval of the Company's Annual Report and annual financial statements
for 2012, including the profit and loss statement;
*Approval of the distribution of profit and the amount, terms, form and
timing of the dividend payment on Sistema shares for 2012;
*Election of members of the Audit Commission;
*Election of members of the Board of Directors;
*Approval of Sistema's auditors.
Sistema's Board is recommending to the AGM to set the total amount of dividend
payment on Sistema's shares for 2012 at RUB 9.264 billion, representing a
payment of RUB 0.96 per ordinary share. The total proposed dividend payment
has been determined on the basis of Sistema's full year 2012 US GAAP net
income and the corporate centre's net gain from disposal of assets in 2012.
The dividend is due to be paid within a 60-day period following the AGM's
approval. Dividend payments to shareholders are settled by bank transfer into
accounts, the details of which to be provided by shareholders.
Shareholders registered as at the record date of May 20, 2013 will be eligible
toparticipate in the AGM and entitled to receive a dividend payment following
the AGM's approval. The AGM materials will be available from May 29, 2013 on
Sistema's website at www.sistema.com or by request from Sistema's head office
during working hours.
In addition, the Board of Directors is recommending that the AGM approves
Deloitte&Touche CIS as the Company's US GAAP and Russian Accounting Standard
auditors in 2013. The AGM will be held at the Corporate office’s conference
center (Moscow, Mokhovaya str. 13) at 11 AM Moscow Time.
Mikhail Shamolin, President and CEO of Sistema commented:
“Today's announcement is a significant milestone which highlights our track
record of generating strong cashflow to the holding level and increasing
shareholder return. The dividends approved by the Board amount to over 3%
yield on Sistema's stock, a substantial growth on past periods. This
reinforces our intention to establish a progressive dividend story for the
For further information, please visit www.sistema.com or contact:
Investor Relations Public Relations
Evgeniy Chuikov Vsevolod Sementsov
Tel.: +7 (495) 692 1100 Tel.: +7 (495) 730 1705
Sistema is the largest publicly-traded diversified holding 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$ 34.2 billion for the full year of 2012, and total assets of
US$ 44.7 billion as at December 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 315 in the 2011 edition of the Fortune Global 500
list. Website: www.sistema.com
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.
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.
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