Moscow, Russia – April 25, 2012 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that its Board of Directors (the “Board”) has set the date for the Annual General Meeting of Shareholders (“AGM”) for June 30, 2012.
The agenda of the Meeting includes the following items:
- approval of the Meeting’s procedures and order;
- approval of the Company’s Annual Report and annual financial statements for 2011, including the profit and loss statement;
- approval of the distribution of profit and the amount, terms, form and timing of the dividend payment on Sistema shares for 2011;
- election of members of the Audit Commission;
- election of members of the Board of Directors;
- approval of Sistema’s auditors.
Sistema’s Board is recommending to the AGM to set the total amount of dividend payment on Sistema’s shares for 2011 at RUB 2.7 billion, representing a payment of RUB 0.28 per ordinary share. The total proposed dividend payment has been determined on the basis of Sistema’s full year 2011 US GAAP net income and the corporate centre’s net gain from the sale of CJSC Sistema-Inventure to OJSC MTS in December 2011. The dividend is due to be paid within a 60-day period following the AGM’s approval. Dividend payments to shareholders are settled by bank transfer into accounts, the details of which are provided by shareholders.
The AGM will be held in the Ballroom Hall II at Ritz-Carlton Hotel, Moscow (3, Tverskaya str.) at 11 AM Moscow Time.
Shareholders registered as at the record date of May 21, 2012 will be eligible to participate in the AGM and entitled to receive a dividend payment following the AGM’s approval. The AGM materials will be available from May 30, 2012 on Sistema’s website at www.sistema.com or by request from Sistema’s head office during working hours.