OREANDA-NEWS. August 20, 2014. MAIL.RU GROUP LIMITED (“Mail.Ru Group” or the “Company”) has been informed that USM Holdings Limited (“USM”) has announced a share buy-back involving the repurchase of 10% of USM’s shares from its majority shareholder, Alisher Usmanov.

These shares, Mail.Ru Group understands, are being allocated among and acquired by senior executives, including Ivan Streshinsky, the Chairman of Metalloinvest, Ivan Tavrin, the CEO of MegaFon, and members of the Board of Directors of USM. While ceding control, Mr Usmanov will remain the largest USM shareholder with a total voting power of 48%.

Mail.ru Group has also been informed that separately, two long-term friends and associates of Mr. Usmanov are each converting their indirect economic interest that they have had for a significant period of time in USM into an interest in 1% for each of them of USM.

Simultaneously, Mr. Usmanov’s indirect voting power in NMTI and Ardoe is also reducing to 48%.

There is no change to the number, or composition, of the elected directors on the board of Mail.Ru Group as a result of these changes.