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

Monday 28 July, 2008

JSFC Sistema


JSFC Sistema


Moscow, Russia - 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 its Board of Directors approved a
new organizational structure of the Company at its meeting on July 26, 2008.

Sistema adopted a matrix model and formed three new operating units in addition
to functional divisions. These units will be responsible for the management of
Sistema's subsidiaries.

The operating unit 'Telecommunications Assets', previously the
Telecommunications Assets Development unit, headed by Vitaly Savelyev, First
Vice President of Sistema, will be responsible for the development and
implementation of Sistema's telecommunications strategy, as well as management
of telecommunications and media assets, including MTS, Comstar-UTS, Sistema Mass
Media, and other companies in Russia, as well as Shyam Telelink, Sistema's
subsidiary in India.

The operating unit 'Consumer Assets' will focus on the development of companies
in the consumer sector, including Detsky Mir, Intourist, MEDSI and MBRD, as well
as Sistema Hals. The Board of Directors has appointed Felix Evtushenkov as Vice
President of Sistema to head this unit.

The operating unit 'High Technologies and Industry' will be engaged in Sistema's
high tech and venture projects, as well as private-public partnerships. This
unit, headed by Sergey Boyev, Vice President of Sistema, will also oversee
Sitronics and RTI Systems.

The new organizational structure of Sistema will comprise the following
functional divisions:

    --  Strategy and Development, headed by Anton Abugov, First Vice President

    --  Finance, Alexey Buyanov, Senior Vice President

    --  Property, Sergei Drozdov, Senior Vice President

    --  Legal, Anna Goldin, Vice President

    --  External Relations, Sergey Cheremin, appointed as Senior Vice President

    --  Administrative, Ruslan Almakaev, Vice President

    --  Corporate Communications, Gennady Frolov

    --  Internal Control and Audit, Olga Shurygina

All above mentioned managers of operating units and functional divisions will
report directly to Leonid Melamed, President and CEO of Sistema.

Leonid Melamed, President and Chief Executive Officer of Sistema, commented:
'The adoption of these changes to the organizational structure completes the
process of reorganization, which was started a year ago, and underlines our
efforts to improve the efficiency of asset management and simplify our corporate
structure. The adopted matrix model of the organization is aimed at achieving
greater participation and control over the execution of the strategy in daughter
companies, increasing motivation and responsibilities of the Corporate centre's
senior management in the decision making process in target markets, as well as
optimizing business development expenditures through synergies and consolidation
of management resources.'

For further information, please visit or contact:

Sistema Investor Relations                  Shared Value Limited
Pavel Kim                                   Larisa Kogut-Millings
Tel: +7 495 692 22 88                       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 100 million customers. Sistema develops and manages market-leading
businesses in selected service-based industries, including telecommunications,
technology, banking, real estate, retail, media, tourism and healthcare. Founded
in 1993, the company reported unaudited revenues of US$ 3.8 billion for the
first quarter of 2008, and total assets of US$ 30.3 billion as at March 31,
2008. 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. In addition, there is
no assurance that the new contracts entered into by our subsidiaries referenced
above will be completed on the terms contained therein or at all. 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