Sistema announces decisions of its Board of Directors
Moscow, Russia - 18 May 2020 - Sistema PJSFC (hereinafter "Sistema" or the "Corporation") (LSE: SSA, MOEX: AFKS), a Russian publicly traded diversified holding company, announces the decisions taken at the meeting of its Board of Directors held on 16 May 2020.
The Board of Directors decided to hold the annual general meeting of shareholders (hereinafter "AGM") on 27 June 2020. Due to the challenging epidemiological situation in Russia and globally brought on by the spread of coronavirus, AGM will be held by absentee vote. Sistema will arrange a live webcast on 27 June 2020 to review the results of the reporting year. The record date for determining shareholders eligible to participate in the AGM is 02 June 2020. As provided by the law, the shareholders who vote before 27 June 2020 will be deemed to have participated in the AGM.
The Board of Directors recommended a dividend for the 2019 financial year of RUB 1,254.5 million, representing a payment of RUB 0.13 per ordinary share (RUB 2.6 per GDR), to be approved by the AGM. The Board of Directors recommended to the AGM to set 16 July 2020 as the dividend record date.
Sistema's Board of Directors has approved a list of nominees to the Board of Directors to be voted on at the AGM. This list of nominees includes:
- Vladimir Evtushenkov;
- Anna Belova (as an independent director);
- Andrey Dubovskov;
- Felix Evtushenkov;
- Ron Sommer;
- Robert Kocharyan (as an independent director);
- Roger Llewelyn Munnings (as an independent director);
- Vladimir Chirakhov;
- Anatoly Chubais (as an independent director);
- Mikhail Shamolin;
- Étienne Schneider (as an independent director);
- David Iakobachvili (as an independent director).
The above nominees to the Board of Directors had been reviewed and recommended by the Board's Nomination, Remuneration and Corporate Governance Committee.
The Board of Directors has also approved the new composition of the Management Board of Sistema PJSFC. The updated Management Board includes:
- Vladimir Chirakhov, President, Chairman;
- Igor Alyoshin, Vice President for Security;
- Sergey Egorov, Managing Partner;
- Artyom Zasursky, Vice President for Strategy and Development;
- Alexey Katkov, Managing Partner;
- Svetlana Matveyeva, Vice President for HR;
- Leonid Monosov, Managing Partner;
- Oleg Mubarakshin, Managing Partner;
- Vsevolod Rozanov, Managing Partner;
- Artyom Sirazutdinov, Managing Partner;
- Vladimir Travkov, Vice President for Finance;
- Ali Uzdenov, Managing Partner;
- Sergey Shishkin, Vice President for Corporate Governance and Legal Affairs.
Recognising increased focus on ESG (environmental, social & governance factors of the business) in modern corporate culture, Sistema's Board of Directors approved an amended version of the Corporate Governance Code consistent with the best international ESG practices and reflecting the Corporation's commitment to best in class ESG performance.
Étienne Schneider joined the government of the Grand Duchy of Luxembourg in 2012 as Minister of the Economy and Foreign Trade. In 2013 he was Deputy Prime Minister, Minister of the Economy, Minister of Internal Security and Minister of Defense of the Grand Duchy of Luxembourg. From 2018 till February 2020 he served as Deputy Prime Minister, Minister of the Economy and Minister of Health of the Grand Duchy of Luxembourg. From 1995 till 2005 Étienne Schneider served as a municipal councilor in Kayl in Luxembourg. Following the municipal elections of 2005, he was elected first alderman, a mandate he held until 2010. From 1997 to 2004 he assumed the role of secretary general of the Luxembourg Socialist Workers' Party (LSAP) parliamentary group in the Luxembourg Parliament. He graduated from the Institut catholique des hautes études commerciales (ICHEC) in Brussels and from the Greenwich University in London. He was awarded a degree in commercial and financial sciences in 1995.
Anatoly Chubais serves as Chairman of the Executive Board at RUSNANO Management Company LLC. In 1998-2008 he headed RAO Unified Energy System of Russia and accomplished its reform. In 1992-1998 he occupied leadership roles within Russian Government and the President Administration. In 1995-1996 Anatoly Chubais served as member country governor for Russia at the World Bank and the International Monetary Fund. In 1977 he graduated from the Leningrad Institute of Engineering and Economics, he holds PhD in economics. In 2010 he received the Order "For Merit to the Fatherland" IV class.
Sistema PJSFC is a Russian publicly-traded diversified holding company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, timber processing, agriculture, real estate, tourism and healthcare services. The company was founded in 1993. Its revenue in 2019 reached RUB 656.9bn; its total assets equalled RUB 1.3tn as of 31 December 2019. 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 Moscow Exchange. Website: www.sistema.ru
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