Sistema PJSFC: Ad-Hoc Notice

Sistema PJSFC (SSA) 
Sistema PJSFC: Ad-Hoc Notice 
 
31-March-2020 / 21:07 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
            Ad-Hoc Notice 
 
    Moscow, 31 March 2020 - Sistema PJSFC ("Sistema" or the "Company") (LSE: 
    SSA, MOEX: AFKS), a Russian publicly-traded diversified holding company, 
announces that its wholly-owned subsidiary Sistema Finance S.A. has signed a 
    sale and purchase agreement for shares and American depository shares of 
    PJSC MTS ("MTS") as part of the new buyback programme for MTS shares and 
  American depository shares in the amount up to RUB 15.0 bn approved by the 
                  Board of Directors of MTS in March 2020 (the "Programme"). 
 
 During the Programme, which was launched on 31 March 2020 and will run till 
            31 December 2020, MTS's wholly-owned subsidiary LLC Bastion (the 
  "Purchaser") plans to acquire shares and American depositary shares of MTS 
 (collectively, the "Shares"). Under the agreement, Sistema Finance may sell 
     to the Purchaser Shares in the amount calculated based on the number of 
    Shares which have been purchased by the Purchaser from third parties, in 
 proportion to Sistema Group's effective equity stake in MTS (50.0073% as of 
                         30 March 2020). 
 
     Sistema Group's effective stake in MTS will therefore not decrease as a 
result of the Programme and Sistema Group will retain effective control over 
                         MTS. 
 
        The Purchaser will purchase Shares from Sistema Finance based on the 
 weighted average price of Shares at which the Purchaser purchased them from 
                         third parties for each calendar month*. 
 
*Taking into account the discount of the market value of MTS ordinary shares 
                         to American depositary shares. 
 
            *** 
 
      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. The company was founded in 1993. Its revenue 
  in 2018 reached RUB 773.9 bn; its total assets equalled RUB 1.5tn as of 31 
    December 2018. 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 the Moscow Exchange. Further information 
                         is available at www.sistema.com [1]. 
 
       For further information, please visit www.sistema.com [1] or contact: 
 
               IR Service             Press Service 
 
         Nikolay Minashin Sergey Kopytov 
 
Phone: [phone] Phone: [phone] 
 
    [e-mail]        [e-mail] 
 
ISIN:          US48122U2042 
Category Code: MSCM 
TIDM:          SSA 
LEI Code:      213800JSZ2UUK4QQK694 
Sequence No.:  55822 
EQS News ID:   1012279 
 
End of Announcement EQS News Service 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=f1efd490ef237092d4033512d119fe99&application_id=1012279&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

March 31, 2020 14:07 ET (18:07 GMT)