Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

 Information  X 
Enter a valid email address

JSFC Sistema (SSA)

  Print      Mail a friend

Tuesday 29 April, 2008

JSFC Sistema


JSFC Sistema


Sistema (LSE:SSA), the largest public diversified corporation in Russia and the
CIS, which manages fast growing companies operating in the consumer services
sector, today announced that the Board of Directors (the 'Board') set the date
for the Company's Annual General Meeting of Shareholders ('AGM') for June 28,
2008. Shareholders at the record date of May 17, 2008, are eligible to
participate in the AGM.

The Board recommended the AGM to consider the following:

1) Approve the Annual Report, the annual accounts, including the Company's
profit and loss accounts for 2007;

2) Consider the profit distribution, approve the size, order, form and timing of
dividend payment for 2007;

3) Elect the Audit Committee;

4) Elect the members of the Board of Directors;

5) Approve Sistema's Russian Accounting Standards and US GAAP auditors;

6) Adopt a new edition of Regulation on the Executive Board;

7) Adopt a new edition of Regulation on the Board of Directors

In addition, the Board of Directors recommended an annual dividend of RUB
2,512,500,000.00, or approximately US$ 106.4 million(1) , for the twelve months
ended December 31, 2007 to holders of Sistema shares. The dividend, which
amounts to a payment of RUB 0.25 per share, or approximately US$ 0.21 per Global
Depositary Receipt ('GDR'), is more than five times higher than the dividend
paid for the same period of 2006. The Board recommended the higher dividend
payment following the revision of the Company's dividend policy, according to
which Sistema intends to pay dividend of up to 40% of its US GAAP net profit
going forward.

The changes in the dividend policy are aimed at increasing the shareholder value
within the Company's business development strategy, as well as boosting return
on investment.

The Board of Directors also recommended the AGM to elect new members of the
Board as follows:

    --  Sergey Cheremin

    --  Vladimir Evtushenkov

    --  Alexander Goncharuk

    --  Alexander Gorbatovsky

    --  Vyacheslav Kopiev

    --  Stephan Newhouse

    --  Evgeny Novitsky

    --  Robert Skidelsky

    --  Ron Sommer

    --  Dmitry Zubov

If elected to the Board, Robert Skidelsky, Professor of Political Economy at the
University of Warwick and a Fellow of the British Academy since 1994, will
become the fourth Non-executive and Independent Director on the Company's Board.

Further information with regard to the AGM and other related issues will be
available from May 28, 2008 on the Company's website at, as well
as by request at Sistema's office at the following address: 17 Prechistenka
Street, Moscow 119034, Russia.

For further information, please visit or contact:

Sistema Investor Relations                                            Shared Value Limited
Laila Simanova                                                        Larisa Kogut-Millings
Tel: +7 495 730 66 00                                                 Tel: +44 (0) 20 7321 5037                                               

Head of International Press Office
Kirill Semenov
Tel: +7 495 730 71 88

Sistema is the largest public diversified corporation in Russia and the CIS,
which manages fast growing companies operating in the consumer services sector
and has over 80 million customers. Sistema develops and manages market-leading
businesses in selected service-based industries, including telecommunications,
technology, banking, real estate, retail and media. Founded in 1993, the company
reported revenues of US$ 9.6 billion for the first nine months of 2007, and
total assets of US$ 24.2 billion as at September 30, 2007. Sistema's shares are
listed under the symbol 'SSA' on the London Stock Exchange, under the symbol
'AFKS' on the Russian Trading System (RTS), under the symbol 'AFKC' on the
Moscow Interbank Currency Exchange (MICEX), and under the symbol 'SIST' on the
Moscow Stock Exchange (MSE).

Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Sistema. You can identify forward looking statements by terms
such as 'expect,' 'believe,' 'anticipate,' 'estimate,' 'intend,' 'will,'
'could,' 'may' or 'might' the negative of such terms or other similar
expressions. We wish to caution you that these statements are only predictions
and that actual events or results may differ materially. We do not intend to
update these statements to reflect events and circumstances occurring after the
date hereof or to reflect the occurrence of unanticipated events. Many factors
could cause the actual results to differ materially from those contained in our
projections or forward-looking statements, including, among others, general
economic conditions, our competitive environment, risks associated with
operating in Russia, rapid technological and market change in our industries, as
well as many other risks specifically related to Sistema and its operations.

Information contained in this announcement does not constitute a public offer or
an advertisement of securities in Russia, is not an offer, or an invitation to
make offers, to purchase any securities in Russia. The reverse convertible
certificates have not been and will not be registered in Russia and are not
intended for 'placement' or 'public circulation' in Russia.

(1) Based on the Russian Central Bank exchange rate as at April 29, 2008

a d v e r t i s e m e n t