Moscow, 31 October 2016. Sistema PJSFC (LSE: SSA; MOEX: AFKS) (hereinafter "Sistema") is pleased to announce that it has signed a binding agreement with JSC RUSNANO (hereinafter "RUSNANO") on restructuring an option agreement dated 15 May 2014 with respect to shares of PJSC Mikron (hereinafter "Mikron", formerly "OJSC NIIME and Mikron").
Under the terms of restructuring, in 2017 Sistema will acquire from RUSNANO 20.42% of Mikron shares for a consideration of RUB 8.1bn, of which RUB 4.8bn is to be paid before 28 December 2016, and RUB 3.3bn paid before 29 December 2017.
RUSNANO joined the project of OJSC NIIME and Mikron for setting up the manufacturing of 90 nanometre microchips in 2009. The production line was launched in February 2012 and at the end of 2014 Mikron manufactured the first Elbrus-2SM processors developed by CJSC MCST on the basis of the 90 nanometre technology.
The option agreement signed on 15 May 2014 provided for RUSNANO's right to sell its shares in Mikron to Sistema for RUB 8.1bn within the period 31 October 2016 to 1 November 2017.
For further information, please visit www.sistema.ru or contact:
Phone: +7 (495) 730 66 00
Phone: +7 (495) 228 15 32