OREANDA-NEWS. October 02, 2014. Sistema JSFC ("Sistema") (LSE: SSA), the largest publicly-traded diversified holding company in Russia and the CIS, announces that it has received a notice from OJSC REESTR relating to the shares of OJSC Bashneft owned by Sistema and CJSC Sistema-Invest (the "Bashneft Shares").

According to the notice, the Moscow Court of Arbitration has imposed a restriction on transactions ("Restriction") relating to the Bashneft Shares. The Restriction is in connection with a civil claim against Sistema and Sistema Invest resulting from an investigation reportedly related to the privatisation of BashTEK Group.

The Restriction does not affect Sistema's and Sistema-Invest's voting rights, but prevents transactions in Bashneft Shares and the receipt of dividends, which will  be paid into an escrow account pending resolution of the investigation. The Restriction is effective from  September 25, 2014 and is independent to the one announced on July 15, 2014 in connection with a separate criminal investigation.

Sistema was not party to the privatisation of BashTEK Group and will use all available legal means to defend its rights. Sistema is continuing to cooperate fully with the investigations and will update the market as appropriate.