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:

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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.

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JSFC Sistema (SSA)

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Thursday 05 April, 2012

JSFC Sistema



JSFC Sistema


Moscow, Russia – April 5, 2012 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announces that Sistema’s subsidiary CJSC Medsi Group of Companies (“Medsi”) - a leader in the Moscow and Russian private healthcare market - has commenced a merger of assets with the State Unitary Enterprise Medical Centre under the Administration of the Mayor of Moscow and the Moscow Government (“SUE”), a large group of healthcare institutions in Moscow. The combined entity will operate under the Medsi name.

The aim of the new, integrated Medsi is to establish a unified system of full-service medical care, ensuring high standards of quality and the use of advanced technologies in the treatment of patients. The company will attract the international experience and expertise of leading industry partners to create an effective and modern system for the management of healthcare facilities in Russia. The use of best international practices for managing investments in healthcare, and for ensuring the operational efficiency of healthcare facilities, will enable the company to create a new industry-wide model, which can then be further expanded within the Russian healthcare sector.

Sergey Sobyanin, the Mayor of Moscow, commented: “In order to achieve a fundamental improvement in Russian healthcare, we need to attract up-to-date foreign medical experience and innovative ideas. The successful implementation of new technologies in treatment and in the management of healthcare enterprises cannot be achieved in one clinic alone, even if that clinic has the benefit of financial support. The radical transformation of healthcare nationally is only possible if best practices are put into effect on a greater scale. The Moscow Government and Sistema are taking the first step in acquiring the necessary experience by creating a significant platform for developing new methods in the treatment and organisation of medical care in Russia.”

Vladimir Evtushenkov, Chairman of the Board of Directors of Sistema, added: “Medsi is a leader in the private healthcare market within the Moscow region and in Russia, which is why the Moscow Government has chosen Medsi as its partner in this unique project, and we are grateful for this opportunity. The integrated Medsi company will attract international experience and investment, which will help us to develop modern standards of treatment and up-to-date technologies. These in turn will improve the quality of the healthcare services that are provided. Furthermore, we will be able to modernise certain technical aspects of medical facilities and upgrade healthcare infrastructure. Through implementing this joint project with Moscow’s SUE, Medsi will benefit from acquiring unique experience that will provide it with the opportunity to create a truly modern solution in the field of healthcare, which can then be further expanded.”

Within the framework of this transaction, Medsi has initiated an additional share issuance via a closed subscription in favour of two parties – SUE and a legal entity registered in the Eurozone, through which investment funds will make their investments into Medsi. SUE will pay for the shares issued to it with its property, which has a market value of RUB 6.043 billion, and will receive a 25.02% stake in the integrated company. SUE will become a Medsi shareholder upon the completion of the transfer of the designated healthcare assets, which is expected to happen by the end of 2012.

The second party participating in the additional share issuance will contribute RUB 6.035 billion in cash and will hold a 24.98% stake in the integrated company. Investment funds will finance the project, including the implementation of the investment programme of the new company, which involves the repair, modernisation and equipping of healthcare institutions in Moscow, and the development of Medsi’s network in the regions.

As a result of the transaction, Sistema, which is providing the business and assets of Medsi as the platform for the integration, will hold a 50% stake in the integrated company.

Following the merger, Medsi will operate 22 out-patient clinics in Moscow, including specialised children’s clinics and large clinical-diagnostic centres; 11 out-patient clinics in the regions; three in-patient hospitals with a total of 1,160 beds in Moscow; over 80 first-aid posts across the country; its own ambulance service; three wellness centres in Moscow and three health resorts in Moscow and the Crimea. The total area of Medsi medical facilities will be more than 230 thousand sq.m.


For further information, please visit or contact:

Investor Relations

Evgeniy Chuikov

Tel.: +7 (495) 692 1100


Public Relations

Vsevolod Sementsov

Tel.:+7 (495) 730 1705


Sistema is the largest diversified public financial corporation in Russia and the CIS, which invests in and is a major shareholder of companies serving over 100 million customers in the sectors of telecommunications, high technology, oil and energy, radars and aerospace, banking, retail, mass-media, tourism and healthcare services. Founded in 1993, the company reported revenues of US$ 9.0 billion for the third quarter of 2011, and total assets of US$ 42.7 billion as at September 30, 2011. Sistema’s global depository receipts are listed under the symbol “SSA” on the London Stock Exchange. Sistema’s ordinary shares are listed under the symbol “AFKS” on the MICEX-RTS Stock Exchange, and under the symbol “SIST” on the Moscow Stock Exchange (MSE). Sistema was ranked number 342 in the 2010 edition of the Fortune Global 500 list. Website:

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.

This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares or other securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the shares or securities of JSFC Sistema and/or any of its subsidiaries and affiliated companies.

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