Moscow, 22 May 2017 – Sistema PJSFC (LSE: SSA, MOEX: AFKS) (“Sistema” or “the Company”), a Russian public diversified holding company, announces the resolutions adopted at a meeting of the Board of Directors of PJSFC Sistema that took place on 20 May 2017.

The Board of Directors approved the list of 11 candidates for election to the new Board of Directors of PJSFC Sistema at the Annual General Meeting of shareholders (AGM) of PJSFC Sistema to be held on 24 June 2017. Five of the 11 candidates fulfil the criteria for independent directors as set out in the Federal Law on Joint-Stock Companies, and by Moscow Exchange and the Russian Corporate Governance Code.

The list of candidates for the Board of Directors of PJSFC Sistema comprises:

1.      Vladimir Evtushenkov

2.      Anna Belova (independent director; proposed by a group of minority shareholders)

3.      Sergei Boev

4.      Andrey Dubovskov

5.      Felix Evtushenkov

6.      Ron Sommer

7.      Robert Kocharyan (independent director)

8.      Jeannot Krecké (independent director)

9.      Roger Munnings (independent director)

10.  Mikhail Shamolin

11.  David Iakobashvili (independent director)

The Board of Directors also put forward for approval by the AGM new redactions of the Charter of PJSFC Sistema, the Terms of Reference of the General Meeting of Shareholders, the Terms of Reference of the Board of Directors and the Statute on the Management Board with the goal of bringing these documents into line with Russian legislation on joint-stock companies and the EU Market Abuse Regulation. 

***

For further information, please visit www.sistema.com or contact: