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 [email protected] in the first instance.

 Information  X 
Enter a valid email address

JSFC Sistema (SSA)

  Print      Mail a friend

Thursday 29 May, 2008

JSFC Sistema


JSFC Sistema


Moscow, Russia - May 29, 2008 - 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 the
appointment of Leonid Melamed as President and Chief Executive Officer of
Sistema with immediate effect, following a decision made at a meeting of the
Board of Directors. Mr Melamed is the former CEO and President of Mobile
TeleSystems ('MTS'), the largest mobile phone operator in Russia and the CIS and
a subsidiary of Sistema.

Leonid Melamed will replace Alexander Goncharuk, who will continue to serve as
First Deputy Chairman of Sistema's Board of Directors. Mr Goncharuk has been a
member of the Board of Directors of Sistema since 1996. From 1995 to 1998, he
occupied the post of Vice-President of the Corporation. From 1998 to 2001, he
headed the telecommunication holding Sistema Telecom, and from 2003 to 2006, was
head of Sitronics. During this time, Sitronics became the largest public
technology company in Eastern Europe. In 2007, Sistema Hals became the first
public Russian real estate company to list on the London Stock Exchange. The
non-public assets of Sistema grew quicker than the market in such sectors as
finance, retail and paid-for healthcare services.

After two years the market capitalization of Sistema has grown by 40%, exceeding
US$ 16 billion. Sistema's revenues during this period have grown by 80% and
constituted US$ 13.7 billion in 2007.

Commenting on the management changes, the Chairman of the Board of Directors at
Sistema, Vladimir Evtushenkov said: 'Under the leadership of Alexander
Goncharuk, Sistema has realized a series of large-scale and ambitious projects,
playing an important role in the development of the Corporation. We are grateful
for the efforts of Mr Goncharuk, during his time at the company we have
successfully launched a unified brand for our telecommunication companies,
entered the Indian market and opened state-of-the-art facilities for the
production of micro-chips of 0.18 microns, accomplishing a real technological
break-through over a short time.

Currently, there are new challenges facing the Corporation: the building of new
business in India, the shaping of an evolved telecommunications' strategy and
achieving leadership in respective markets of our non-public companies. I do not
doubt that through the efforts of Leonid Melamed we will achieve these
challenging goals.'

Leonid Melamed, President of Sistema noted: 'It is a great honour for me to lead
Sistema, which serves approximately 100 million clients in the most diverse
markets. I am confident that the experience of managing large diversified
services businesses and my values will prove useful for me in my new role.'

Leonid Melamed was born in 1967 in Moscow. He served as President and CEO of MTS
from June 14, 2006 and has been a member of the Board of Directors at MTS from
June 23, 2006. Prior to joining MTS, Leonid Melamed worked at ROSNO between 1991
and 2006, and served as the Director General and Chairman of the Management
Board since 2003. Between 2004 and 2006, Mr Melamed served as the Chairman of
the Expert Council on Insurance Legislation, part of the Russian State Duma
Committee on Credit Organizations and Financial Markets.

Mr. Melamed has won numerous awards in Russia for his successes in strategic
leadership and operational efficiency. In 2004, Mr. Melamed was named 'Person of
the Year' in the annual 'People of the Year' project by internet holding company
Rambler. He also received the Russian public award in the insurance sector
'Golden Salamander' in the category of 'The Manager of Insurance Company'. He
was named as one of the top 250 'Young Global Leaders' by the World Economic
Forum in 2007.

In 2008, Mr. Melamed joined the Board of the GSM Association, the global trade
association for the mobile industry.

Mr. Melamed is a graduate of the Sechenov Moscow Medical Academy and holds a PhD
in Medicine.

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
[email protected]                                     [email protected]

Head of International Press Office
Kirill Semenov
Tel: +7 495 730 71 88
[email protected]

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 85 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 unaudited revenues of US$ 13.7 billion for the full year of 2007, and
total assets of US$ 28.4 billion as at December 31, 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.

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