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Sistema PJSFC: Sistema extends the tenor of its share repurchase programme

·2-min read

Sistema PJSFC (SSA)
21-Dec-2020 / 09:55 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

  

Sistema extends the tenor of its share repurchase programme

 

 

Moscow, 21 December 2020 - Sistema PJSFC ("Sistema") (LSE: SSA, MOEX: AFKS), a publicly traded diversified Russian holding company, announces the extension of the share buyback programme (the "Programme") until 31 December 2021.

 

The Programme, launched on 17 September 2019, initially stipulated that Sistema's ordinary shares (the "Shares") were to be repurchased by a wholly owned subsidiary of Sistema for up to a maximum  pecuniary amount of RUB 3.0 billion. The maximum number of Shares to be repurchased under the Programme were not to exceed 300 million. The Programme was to run until 29 February 2020, or until the total number of Shares or the total monetary value of Shares repurchased under the Programme reach their stipulated maximum, whichever occurs first. In February 2020, the share repurchase program was extended until 31 December 2020 (inclusive).

 

The Programme is now extended until 31 December 2021 (inclusive) while all other parameters of the Programme remain unchanged. As of 18 December 2020, Sistema's wholly owned subsidiary has repurchased 120.6 million Shares for an aggregate amount of RUB 1.6 billion.

 

Under the Programme, Sistema's ordinary shares will be repurchased through a broker appointed by its wholly owned subsidiary.

 

Purchases may continue during both open periods and any closed periods to which Sistema is subject during the above mentioned period.

 

Repurchase of Shares under the Programme will be conducted in accordance with applicable laws and regulations.

 

Upon repurchase, the Shares will be used by Sistema for general corporate needs, including management incentive plans.

 

Sistema will report on the progress of the share repurchase Programme on its corporate website as well as through a regulatory information service.

 

No purchases of Shares are intended to be made in the United States.

 

 

***

Sistema PJSFC is a publicly traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2019 was RUB 656.9 billion; total assets equalled RUB 1.3 trn as of 31 December 2019. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.com.

 

For further information, please visit www.sistema.ru or contact:

 


Investor Relations

Nikolai Minashin

Phone: +7 (495) 730 66 00

n.minashin@sistema.ru

Public Relations

Sergey Kopytov

Phone: +7 (495) 228 15 32

kopytov@sistema.ru

 

 

Investor Relations

Nikolai Minashin

Phone: +7 (495) 730 66 00

n.minashin@sistema.ru

Public Relations

Sergey Kopytov

Phone: +7 (495) 228 15 32

kopytov@sistema.ru

 

 

ISIN:

US48122U2042

Category Code:

MSCM

TIDM:

SSA

LEI Code:

213800JSZ2UUK4QQK694

Sequence No.:

90020

EQS News ID:

1156530


 

End of Announcement

EQS News Service

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