print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

February 28, 2020

Sistema extends the tenor of its share repurchase programme

Moscow, 28 February 2020 – Sistema PJSFC (“Sistema”) (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces the extension of the share buyback programme (the “Programme”) to 31 December 2020.

The Programme, launched on 17 September 2019, initially stipulated that Sistema’s ordinary shares (the “Shares”) were to be repurchased by a wholly owned subsidiary of Sistema for up to a maximum  pecuniary amount of RUB 3.0 billion. The maximum number of Shares to be repurchased under the Programme were not to exceed 300 million. The Programme was to run until 29 February 2020, or until the total number of Shares or the total monetary value of Shares repurchased under the Programme reach their stipulated maximum, whichever occurs first.

The Programme is now extended until 31 December 2020 (inclusive) while all other parameters of the Programme remain unchanged. As of 28 February 2020, Sistema’s wholly owned subsidiary has repurchased 120.6 million Shares for an aggregate amount of RUB 1.6 billion.

Under the Programme, Sistema’s ordinary shares will be repurchased through a broker appointed by its wholly owned subsidiary.

Purchases may continue during both open periods and any closed periods to which Sistema is subject during the above mentioned period.

Repurchase of Shares under the Programme will be conducted in accordance with applicable laws and regulations.

Upon repurchase, the Shares will be used by Sistema for general corporate needs, including management incentive plans.

Sistema will report on the progress of the share repurchase Programme on its corporate website as well as through a regulatory information service.

No purchases of Shares are intended to be made in the United States.

***

Sistema PJSFC is a publicly traded diversified Russian holding company serving over 150 million customers in such sectors as telecommunications, retail, paper and packaging, agriculture, high technology, banking, real estate, pharmaceuticals, tourism and healthcare services. The company was founded in 1993. Revenue in 2018 was RUB 777.4 bn; total assets equalled RUB 1.5 trn as of 31 December 2018. Sistema’s global depositary receipts are listed under the “SSA” ticker on the London Stock Exchange. Sistema’s ordinary shares are listed under the “AFKS” ticker on the Moscow Exchange. Website: www.sistema.ru   

***

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

Investor Relations

Nikolai Minashin

Tel: +7 (495) 730 66 00

n.minashin@sistema.ru

Public Relations

Sergey Kopytov

Tel.: +7 (495) 228 15 32

kopytov@sistema.ru

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer