Moscow, 13 April 2022 – Sistema PJSFC (“Sistema”, the “Corporation” or, together with its subsidiaries, the “Group”), notes that on 13 April 2022 the UK Government imposed asset freeze sanctions on Vladimir Evtushenkov, the largest shareholder of Sistema and announces that it will continue to duly fulfil all of its obligations towards its creditors, investors, employees and partners.
Sistema also reports that Vladimir Evtushenkov has transferred a 10% stake in the share capital of Corporation to Sistema’s member of the Board of Directors and Senior managing partner, Felix Evtushenkov. As a result of this transaction, Felix Evtushenkov’s stake in the share capital of Sistema has increased to 15.2%, whereas Vladimir Evtushenkov’s shareholding in Sistema has decreased to 49.2%.
The sanctions imposed by the UK Government on Vladimir Evtushenkov are personal and do not target the Corporation and other Group companies.
Sistema has all the necessary resources management team and expertise to ensure its steady operations in the current environment. The Corporation maintains a stable financial position and comfortable debt leverage, as demonstrated in its financial statements for 2021. The debt portfolio of the Corporation is fully denominated in Russian roubles.
In view of the high level of uncertainty and the rapidly changing external environment Sistema cannot, however, rule out further possibility of a material adverse impact on the operations and financial results of the Group’s companies and, as a result, on the Corporation’s financial results, stemming from current and/or future external factors beyond its control, including a change in the macroeconomic situation, restrictions relating to business and trade relations, or the possibility of the further expansion of sanctions.
For further information, please visit www.sistema.com or contact:
Tel.: +7 (495) 228 15 32
Tel: +7 (495) 730 66 00
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of PJSFC Sistema and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the shares or securities of PJSFC Sistema and/or any of its subsidiaries and affiliated companies.