24.12.2015, 01:17
MTS Announces Decisions of Its Board of Directors
OREANDA-NEWS. Mobile TeleSystems PJSC announces decisions reached at a meeting of the Board of Directors.
The Board of Directors decided to call an Extraordinary General Meeting of shareholders (the "EGM") on February 29, 2016. The record date for the Company's share- and ADR-holders entitled to participate in the EGM has been set for January 15, 2016.
The matters to be considered and resolved by the EGM include:
* The reorganization of MTS PJSC through the takeover of its subsidiary Sistema Inventure JS, and approval of accession agreement;
* Amendments to the Charter of MTS PJSC.
The Board decided that owners of MTS ordinary shares voting against this issue or those who abstain from voting will be eligible to submit their shares for repurchase at the price of RUB 167 per ordinary share. The price was set based on the appraisal conducted by 2K JS consultancy.
The Board has also decided:
* to increase MTS PJSC's direct ownership stake in the charter capital of Sistema Inventure JS to 100%;
* to approve MTS PJSC's participation in the charter capital of Jums Projects LLC;
* to discontinue MTS PJSC's participation in the charter capital of Mobile TeleSystems Bermuda Limited through the voluntary liquidation of Mobile TeleSystems Bermuda Limited.
The Board of Directors decided to call an Extraordinary General Meeting of shareholders (the "EGM") on February 29, 2016. The record date for the Company's share- and ADR-holders entitled to participate in the EGM has been set for January 15, 2016.
The matters to be considered and resolved by the EGM include:
* The reorganization of MTS PJSC through the takeover of its subsidiary Sistema Inventure JS, and approval of accession agreement;
* Amendments to the Charter of MTS PJSC.
The Board decided that owners of MTS ordinary shares voting against this issue or those who abstain from voting will be eligible to submit their shares for repurchase at the price of RUB 167 per ordinary share. The price was set based on the appraisal conducted by 2K JS consultancy.
The Board has also decided:
* to increase MTS PJSC's direct ownership stake in the charter capital of Sistema Inventure JS to 100%;
* to approve MTS PJSC's participation in the charter capital of Jums Projects LLC;
* to discontinue MTS PJSC's participation in the charter capital of Mobile TeleSystems Bermuda Limited through the voluntary liquidation of Mobile TeleSystems Bermuda Limited.
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