Moscow, Russia – 23 August 2017– Sistema PJSFC (“Sistema” or “the Corporation”) (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, notes today’s decision by the Republic of Bashkortostan Arbitration Court to partially satisfy claims brought by Rosneft, PJSOC Bashneft and the Republic of Bashkortostan against the Corporation and JSC Sistema Invest seeking to recover damages allegedly suffered by the claimants as a result of the reorganisation of PJSOC Bashneft. According to the decision announced by the judge at the hearing, the court has ordered Sistema and Sistema-Invest to pay damages of RUB 136,273,554,065.
Sistema PJSFC disagrees with today’s court decision, which it considers to be unlawful and unfounded, and will file an appeal with the Eighteenth Arbitration Court of Appeal in Chelyabinsk within the time limit prescribed by the law. The decision of the Republic of Bashkortostan Arbitration Court will not come into effect until such time as the appeal court makes its decision.
For further information, please visit www.sistema.ru or contact:
Tel.: +7 (495) 730 66 00
Tel.: +7 (495) 228 15 32