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Sistema PJSFC - Sistema settles with Rosneft et al

Wed 27th December, 2017 7:00am
RNS Number : 2795A
Sistema PJSFC
27 December 2017

Sistema has signed a settlement agreement with Rosneft, Bashneft and the Republic of Bashkortostan

Moscow, 22 December 2017 - Sistema PJSFC ("Sistema" or the "Corporation") (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces that it has signed a settlement agreement with Rosneft, Bashneftand the Republic of Bashkortostan.

According to the agreement, all sides will recall all their lawsuits and abandon all claims against each other, and Sistema will be obliged to pay Bashneft RUB 100 billion by 30 March 2018. Sistema will make this payment using its own as well as borrowed funds.

Sistema would like to express its gratitude to the Russian Direct Investment Fund for its active contribution in reaching the settlement and to Sberbank of Russia for its contribution and assistance in signing the settlement agreement.

***

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

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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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