AFK Sistema : Sistema JSFC announces results of Annual General meeting of shareholders and meeting of the Board of Directors

27/06/2016

Sistema JSFC announces results of Annual General meeting of shareholders and meeting of the Board of Directors

Moscow, Russia - June 27, 2016 - Sistema JSFC ('Sistema' or 'the Company') (LSE: SSA, MOEX: AFKS), a publicly-traded diversified holding company operating primarily in Russia and the CIS, announces the results of its Annual General Meeting of shareholders (AGM) and meeting of the Board of Directors that took place on 25 June 2016.

The AGM approved a resolution to pay dividends for the 2015 financial year of RUB 6.47 billion (RUB 0.67 per ordinary share or RUB 13.4 per GDR of Sistema JSFC). The record date for inclusion in the shareholder register to receive the dividend will be 14 July 2016. Dividends will be paid no later than 10 business days after this date.

The AGM elected the Board of Directors of Sistema JSFC as follows:

1. Vladimir Evtushenkov
2. Sergei Boev
3. Andrey Dubovskov
4. Felix Evtushenkov
5. Patrick Clanwilliam (independent director)
6. Robert Kocharyan (independent director)
7. Jeannot Krecké (independent director)
8. Peter Mandelson (independent director)
9. Roger Munnings (independent director)
10. Mikhail Shamolin
11. David Yakobashvili (independent director)

The AGM approved the Company's Annual Report and annual financial statements for 2015, as well as updated versions of the Charter and the Terms of Reference of the Board of Directors of Sistema JSFC.

The AGM approved CJSC Deloitte and Touche CIS as auditor of Sistema JSFC's financial statements in accordance with RAS and IFRS for 2016.

A meeting of the Board of Directors that took place after the AGM elected Vladimr Evtushenkov as Chairman of the Board of Directors and Sergei Boev as Deputy Chairman.

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

Sistema is a publicly-traded diversified holding company in Russia and the CIS, which invests in and is a major shareholder of companies serving approximately 150 million customers in the sectors of telecommunications, high technology, pulp and paper, agriculture, banking, retail, real estate, pharmaceuticals, tourism and healthcare services. Founded in 1993, the Company reported revenues of RUB 708.6 billion for 2015, and total assets of RUB 1.3 trillion as at 31 December 2015. Sistema's global depository receipts are listed under the symbol 'SSA' on the London Stock Exchange. Sistema's ordinary shares are listed under the symbol 'AFKS' on the Moscow Exchange. Website: www.sistema.com

The Company is not an investment company, and is not and will not be registered as such, under the U.S. Investment Company Act of 1940.

Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Sistema. You can identify forward looking statements by terms such as 'expect,' 'believe,' 'anticipate,' 'estimate,' 'intend,' 'will,' 'could,' 'may' or 'might' the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. In addition, there is no assurance that the new contracts entered into by our subsidiaries referenced above will be completed on the terms contained therein or at all. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to Sistema and its operations.