Moscow, 2 December 2020 Sistema PJSFC (Sistema or the Corporation) (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces that its wholly-owned subsidiary Sistema Finance S.A. has sold 3,222,550 shares of PJSC MTS (hereinafter, "MTS") in the form of ordinary shares and American depository shares to a wholly-owned subsidiary of MTS, LLC Bastion (the “Purchaser"), as part of MTS share buyback programme in the amount up to RUB 15 billion announced by MTS in March 2020 (the Programme). The amount of the transaction is approximately RUB 1 023 mln.
In accordance with the terms of the Programme and the agreement between Sistema Finance S.A. and the Purchaser, the number of MTS shares to be transferred by Sistema Finance S.A. in this transaction was calculated based on the number of ordinary shares and American depositary shares of MTS purchased by the Purchaser from the third parties in November 2020 pro-rata to Sistema Group effective equity stake in MTS. As a result of the transaction Sistema Group's effective stake in MTS amounted to 50.0177%.
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