Moscow, Russia– March 19, 2015 – Sistema JSFC (“Sistema” or the “Company”) (LSE: SSA) today announces that Sistema and Ural-Invest LLC (“Ural-Invest”) have signed an amicable settlement agreement at the stage of the execution of to the decision of the Arbitrazh (Commercial) Court of the City of Moscow dated February 18, 2015. The agreement has been filed for the court’s approval, which according to the legislation, is expected to be considered by the court within one month. In accordance with the terms of the amicable settlement agreement, all the property owned by Ural-Invest, i.e. cash assets of approximately RUB 46.5 billion, will be transferred to Sistema.
Given the social importance of the projects of the URAL charitable fund (“Fund”), which is affiliated with Ural-Invest, and in accordance with the terms of the settlement agreement Sistema will invest RUB 4.6 billion of the funds receivable from Ural-Invest to the Fund’s socially important projects.
For further information, please visit www.sistema.com or contact:
Tel: +7 (495) 692 11 00
Tel.: +7 (495) 228 15 27