SSA: JSFC Sistema: RESULTS OF SISTEMA’S BOARD OF DIRECTORS MEETING
UK Regulatory Announcement
RESULTS OF SISTEMA’S BOARD OF DIRECTORS MEETING
Moscow, Russia – December 16, 2013 – Sistema JSFC (“Sistema”, the “Group” or
the “Company”) (LSE: SSA), the largest publicly-traded diversified holding
company in Russia and the CIS, today announces that its Board of Directors
held a meeting on December 14, 2013, where a number of corporate matters were
considered, including consolidated nine months results for 2013, the budget
and management’s KPIs for 2014, as well as the strategy and investments in a
number of Sistema’s subsidiaries. The Board also approved a new composition of
the Group’s Management Board and the appointment of Michael Hecker as Vice
President, Head of Strategy, effective February 1, 2014.
Michael Hecker currently serves as Vice President for Strategy, M&A and
Corporate Development, Member of the Executive Board at Mobile TeleSystems
OJSC (“MTS”). It is expected that his powers will be terminated at the meeting
of the MTS Board of Directors on December 19, 2013. Michael Hecker joined MTS
in 2006. From 2000 to 2006, Mr. Hecker worked at the consulting firm A.T.
Kearney Europe, focusing on strategy, marketing and finance in
telecommunications and consumer goods industries. Prior to that, he worked as
a junior lawyer in Berlin and Brandenburg (Germany).
Dr. Michael Hecker graduated in International Politics and Administration from
the Pierre- Mendès-France University of Grenoble (France) and is a graduate in
Law (1. and 2. German State Examination) and Modern History (M.A.) of the
University of Göttingen (Germany), where he also holds a PhD in Constitutional
For further information, please visit www.sistema.com or contact:
Investor Relations Public Relations
Evgeniy Chuikov Ekaterina Tsukanova
Tel: +7 (495) 692 11 00 Tel.: +7 (495) 228 15 36
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$ 9.3 billion for the third quarter of 2013, and total assets of
US$ 44.4 billion as at September 30, 2013. 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. Sistema was ranked number 315 in the 2012 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. 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.
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