OREANDA-NEWS. April 26, 2010. Sistema (the “Group”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies operating in different industries, today announced that the Board of Directors (the “Board”) set the date for the Annual General Meeting of Shareholders (“AGM”) for June 26, 2010. The record date for the Company’s share and GDR holders entitled to participate in the AGM has been set for May 14, 2010, reported the press-centre of Sistema.   

The Board recommended the AGM to consider the following:

Approve the Company’s Annual Report and Russian Accounting Standards annual financial statements for 2009;

Approve the amount, terms, form and timing of dividend payment;

Elect members of the Audit Commission;

Elect members of the Board of Directors;

Approve Sistema’s Russian Accounting Standards and US GAAP auditors;

Adopt a new edition of the Company’s Charter;

Adopt a new edition of the Company’s Regulation on General Meeting of shareholders.

The Board of Directors recommended a dividend of RUB 0.055 per share, or approximately USD 0.038 per Global Depositary Receipt (“GDR”), to be paid to shareholders of record within 60 days of the approval by the AGM. The total dividend payment which is expected to be made equals RUB 530,750,000.00, or approximately USD 18.2 million.
 
The Board also recommended appointing CJSC BDO as Russian statutory auditors of the Company and Deloitte & Touche CIS as auditors of Sistema’s US GAAP financial results.
 
Further information with regard to the AGM and other related issues will be available from May 26, 2010 on Sistema’s website at www.sistema.com or by request at Sistema’s office at: 17/9 Prechistenka Street, Moscow 119034, Russia.