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Revenue £6.54bn
Position in Universe th / 1819

Sistema PJSFC - Regarding the ruling of the court of appeal

Mon 18th December, 2017 12:17pm
RNS Number : 6570Z
Sistema PJSFC
18 December 2017

Regarding the ruling of the court of appeal in the Rosneft case

Moscow, 18 December 2017 - Sistema PJSFC (hereinafter, "Sistema" or the "Corporation") (LSE: SSA, MOEX: AFKS) announces that today the Eighteenth Arbitration Court of Appeal in Chelyabinsk ruled to uphold the judgment of the Arbitration Court of the Republic of Bashkortostan dated 30 August 2017 on the claim of Rosneft, Bashneft and the Republic of Bashkortostan (together - the "Claimants") against the Corporation and its subsidiary Sistema Invest.

According to the ruling of the court of appeal, Sistema and Sistema Invest must pay to Bashneft RUB 136,273,554,065 for damages allegedly suffered by Bashneft as a result of its reorganisation in 2014.

The Corporation plans to implement the court's ruling in accordance with the procedure established by law, and will simultaneously dispute the ruling of the appeal court by filing a cassation appeal to the Arbitration Court of the Urals District within the time limit prescribed by law.

The Corporation is servicing and plans to continue to service its credit and other financial obligations in a timely manner and in full.

***

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

IR Service

Yury Krebs

Tel.: +7 (495) 730 66 00

y.krebs@sistema.ru

Press service

Sergey Kopytov

Tel.: +7 (495) 228 15 32

kopytov@sistema.ru

***

This announcement contains inside information. Full name and position of person making the announcement - Yuri Krebs, Director, Investor Relations

***

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. Its revenue in 2016 reached RUB 697.7bn; its total assets equalled RUB 1.1tn as of 31 December 2016. 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


This information is provided by RNS
The company news service from the London Stock Exchange
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