Moscow, Russia – December 25, 2014 – Sistema JSFC (“Sistema”) (LSE: SSA) announces that following a decision by its Board of Directors, at the meeting on November 12, 2014, it has filed a claim with the Arbitrazh (Commercial) Court of the City of Moscow for the recovery of damages from LLC Ural-Invest, as a result of the seizure of the JSOC Bashneft shares (the “Bashneft Shares”). Sistema, as a good faith buyer, intends to seek compensation for losses from the counterparties, and/or their legal successors, which sold the Bashneft Shares to Sistema and CJSC Sistema-Invest.
The claim was filed following the enforcement of the ruling by the Arbitrazh (Commercial) Court of the City of Moscow, dated November 7, 2014, that the Bashneft Shares owned by Sistema and Sistema-Invest should be returned to the Russian Federation.
Sistema will update the market as appropriate.
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For further information, please visit www.sistema.com or contact:
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Investor Relations
Evgeniy Chuikov
Tel: +7 (495) 692 11 00
ir@sistema.ru |
Public Relations
Sergey Kopytov
Tel.: +7 (495) 228 15 27
kopytov@sistema.ru
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