Tweet
PR-Inside.com
Aug 29 2009
Sistema Announces Results of Its AGM
© Business Wire 2009
2009-08-29 09:11:04 -
Sistema (LSE:SSA), the largest diversified public financial
corporation in Russia and the CIS, which manages large companies
operating in different industries, today announced the decisions made
at the Annual General Meeting of its shareholders (the `AGM') on June
27, 2009.
The Board of Directors was expanded from 10 to 13 members. The AGM
approved the election of three new members to
the Board of Directors.
Leonid Melamed, President and CEO of Sistema, Rajiv Mehrotra, member
of the Board of Directors of Sistema Shyam Teleservices, Robert
Kocharyan, an independent director. The Board of Directors, therefore,
comprises 4 independent non-executive directors and consists of 13
members.
The shareholders approved the election of the members of the Board of
Directors as follows.
- Alexander Goncharuk
- Alexander Gorbatovsky
- Vladimir Evtushenkov
- Ron Sommer
- Dmitry Zubov
- Vyacheslav Kopiev
- Robert Kocharyan
- Leonid Melamed
- Rajiv Mehrotra
- Evgeny Novitsky
- Stephan Newhouse
- Robert Skidelsky
- Sergey Cheremin
At the statutory Board meeting following the AGM, the Board of
Directors appointed Vladimir Evtushenkov as Chairman.
The AGM approved the Company's Annual Report and annual financial
statements for 2008. The AGM also made a decision not to pay dividends
for 2008.
Gorislavtsev and K. Audit was appointed as Sistema's Russian
Accounting Standards auditor for 2009, and Deloitte & Touche CIS was
appointed as Sistema's US GAAP auditor for 2009. The AGM also elected
the Audit Committee.
Robert Kocharyan was born in 1954 in Stepanakert, Nagorno-Karabakh
Autonomous Oblast. From 1998 to 2008, Mr. Kocharyan was the President
of Armenia. Prior, from 1997 to 1998, he served as Prime Minister of
Armenia. From 1994 to 1997, Mr. Kocharyan was President of
Nagorno-Karabakh Republic. From 1992 to 1994, he served as Chairman of
the State Defense Committee and Prime Minister of the Nagorno-Karabakh
Republic. In 1991, he was elected a deputy of the Nagorno-Karabakh
Republic's Supreme Soviet of the first convocation. In 1989 and in
1990, Mr. Kocharyan was a deputy of Armenia's Supreme Soviet and
member of the Presidium of the Supreme Soviet. Prior to that, he
worked in Stepanakert's electro-technical plant and occupied various
posts in Nagorno Karabakh's youth communist and party
organisations. In 1982, Robert Kocharyan graduated from Yerevan
Polytechnic Institute.
Rajiv Mehrotra was born in 1954. Mr. Mehrota is a founder of Shyam
Group of India, where he serves as Chairman and Managing Director. He
was also instrumental in establishing Shyam Telecom, one of the
leading providers of mobile communications solutions. Mr. Mehrota is
also one of the founders of Shyam Telelink (now Sistema Shyam
Teleservices), one of the first CDMA 2000 mobile network operators in
India. He actively cooperates with the Association of Basic Telecom
Operators, and is a member of the Federation of Indian Chambers of
Commerce & Industry (FICCI) Telecom Committee. Mr. Mehrota is a member
of the Board of Directors of Sistema Shyam Teleservices.
For further information, please visit www.sistema.com :
Sistema is the largest public diversified financial corporation in
Russia and the CIS, which manages companies serving over 100 million
customers in the sectors of telecommunications, high-tech, oil and
energy, radio and aerospace, banking, real estate, retail, mass-media,
tourism and healthcare services. Founded in 1993, the company reported
revenues of US$ 16.7 billion and US$ 2.8 billion for the full year
2008 and the first quarter of 2009 respectively, and total assets of
US$ 27.1 billion as at March 31, 2009. Sistema's shares are listed
under the symbol `SSA' on the London Stock Exchange, under the symbol
`AFKS' on the Russian Trading System (RTS), under the symbol `AFKC' on
the Moscow Interbank Currency Exchange (MICEX), and under the symbol
`SIST' on the Moscow Stock Exchange (MSE).
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.
Sistema Investor RelationsPavel KimTel: +7 495 692 22
88 [email protected] : mailto:[email protected] orShared
Value LimitedLarisa Kogut-MillingsTel: +44 (0) 20 7321
5010 [email protected] : mailto:[email protected]
http://www.pr-insi de.com/sistema-announces-results-of-its-agm-r14576 51.htm
Aug 29 2009
Sistema Announces Results of Its AGM
© Business Wire 2009
2009-08-29 09:11:04 -
Sistema (LSE:SSA), the largest diversified public financial
corporation in Russia and the CIS, which manages large companies
operating in different industries, today announced the decisions made
at the Annual General Meeting of its shareholders (the `AGM') on June
27, 2009.
The Board of Directors was expanded from 10 to 13 members. The AGM
approved the election of three new members to
the Board of Directors.
Leonid Melamed, President and CEO of Sistema, Rajiv Mehrotra, member
of the Board of Directors of Sistema Shyam Teleservices, Robert
Kocharyan, an independent director. The Board of Directors, therefore,
comprises 4 independent non-executive directors and consists of 13
members.
The shareholders approved the election of the members of the Board of
Directors as follows.
- Alexander Goncharuk
- Alexander Gorbatovsky
- Vladimir Evtushenkov
- Ron Sommer
- Dmitry Zubov
- Vyacheslav Kopiev
- Robert Kocharyan
- Leonid Melamed
- Rajiv Mehrotra
- Evgeny Novitsky
- Stephan Newhouse
- Robert Skidelsky
- Sergey Cheremin
At the statutory Board meeting following the AGM, the Board of
Directors appointed Vladimir Evtushenkov as Chairman.
The AGM approved the Company's Annual Report and annual financial
statements for 2008. The AGM also made a decision not to pay dividends
for 2008.
Gorislavtsev and K. Audit was appointed as Sistema's Russian
Accounting Standards auditor for 2009, and Deloitte & Touche CIS was
appointed as Sistema's US GAAP auditor for 2009. The AGM also elected
the Audit Committee.
Robert Kocharyan was born in 1954 in Stepanakert, Nagorno-Karabakh
Autonomous Oblast. From 1998 to 2008, Mr. Kocharyan was the President
of Armenia. Prior, from 1997 to 1998, he served as Prime Minister of
Armenia. From 1994 to 1997, Mr. Kocharyan was President of
Nagorno-Karabakh Republic. From 1992 to 1994, he served as Chairman of
the State Defense Committee and Prime Minister of the Nagorno-Karabakh
Republic. In 1991, he was elected a deputy of the Nagorno-Karabakh
Republic's Supreme Soviet of the first convocation. In 1989 and in
1990, Mr. Kocharyan was a deputy of Armenia's Supreme Soviet and
member of the Presidium of the Supreme Soviet. Prior to that, he
worked in Stepanakert's electro-technical plant and occupied various
posts in Nagorno Karabakh's youth communist and party
organisations. In 1982, Robert Kocharyan graduated from Yerevan
Polytechnic Institute.
Rajiv Mehrotra was born in 1954. Mr. Mehrota is a founder of Shyam
Group of India, where he serves as Chairman and Managing Director. He
was also instrumental in establishing Shyam Telecom, one of the
leading providers of mobile communications solutions. Mr. Mehrota is
also one of the founders of Shyam Telelink (now Sistema Shyam
Teleservices), one of the first CDMA 2000 mobile network operators in
India. He actively cooperates with the Association of Basic Telecom
Operators, and is a member of the Federation of Indian Chambers of
Commerce & Industry (FICCI) Telecom Committee. Mr. Mehrota is a member
of the Board of Directors of Sistema Shyam Teleservices.
For further information, please visit www.sistema.com :
Sistema is the largest public diversified financial corporation in
Russia and the CIS, which manages companies serving over 100 million
customers in the sectors of telecommunications, high-tech, oil and
energy, radio and aerospace, banking, real estate, retail, mass-media,
tourism and healthcare services. Founded in 1993, the company reported
revenues of US$ 16.7 billion and US$ 2.8 billion for the full year
2008 and the first quarter of 2009 respectively, and total assets of
US$ 27.1 billion as at March 31, 2009. Sistema's shares are listed
under the symbol `SSA' on the London Stock Exchange, under the symbol
`AFKS' on the Russian Trading System (RTS), under the symbol `AFKC' on
the Moscow Interbank Currency Exchange (MICEX), and under the symbol
`SIST' on the Moscow Stock Exchange (MSE).
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.
Sistema Investor RelationsPavel KimTel: +7 495 692 22
88 [email protected] : mailto:[email protected] orShared
Value LimitedLarisa Kogut-MillingsTel: +44 (0) 20 7321
5010 [email protected] : mailto:[email protected]
http://www.pr-insi de.com/sistema-announces-results-of-its-agm-r14576 51.htm