Sistema Announces Board's Resolutions
OREANDA-NEWS. 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 28, 2014. The agenda of the AGM includes the following items:
Approval of the procedures and order of the AGM;
Approval of the annual report and annual accounting statements, including the profit and loss statement of the Company for 2013;
Approval of the distribution of profit and the amount, terms, form and timing of the dividend payment for Sistema shares;
Election of members of the Audit Commission;
Election of members of the Company's Board of Directors;
Approval of the Company's auditors.
The record date for shareholders eligible to participate in the AGM is May 16, 2014.
The Board is recommending to the AGM to set the total amount of dividend payment for Sistema's shares at RUR 19.879 billion, representing a payment of RUR 2.06 per ordinary share. Subject to approval by the AGM, dividend payments shall be settled by bank transfer into accounts of the shareholders specified in the register as of July 17, 2014. The dividend is due to be paid within a 10-day period following this date.
The Board resolved to include the election of members of Sistema's Board as an agenda item for the AGM. The list of candidates to the Board will be prepared by the Board at its next meeting according to the procedure provided for by cl.7 of art.53 of the federal law On Joint-Stock Companies.
The Board also recommended to the AGM the appointment of CJSC Deloitte & Touche CIS as auditors of Sistema's RAS and US GAAP financial results.
The Annual General Meeting of Shareholders of Sistema JSFC will be held in the conference room at Sistema's office at: 13/1 Mokhovaya St., Moscow, Russia. The registration of the AGM participants will begin at 10.00 (Moscow time) on 28 June 2014.
The AGM materials will be available from May 28, 2014 on Sistema's website www.sistema.ru <http://www.sistema.ru> or by request from Sistema's head office.