Aktsionernaya Finansovaya Korporatsiya Sistema OAO (SSAq.L) Key Developments | Reuters.com
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Aktsionernaya Finansovaya Korporatsiya Sistema OAO (SSAq.L)

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Latest Key Developments (Source: Significant Developments)

Russia's Sistema buys 1.02 pct of its shares
Tuesday, 21 Jun 2016 08:00am EDT 

AFK Sistema says: Sistema's subsidiary, Sistema Finance JSC, has today completed the acquisition of 98,250,000 Sistema's ordinary shares, representing 1.02 percent of Sistema's share capital, for around 2.1 billion roubles ($32.7 million) from a non-affiliated seller. . The shares were purchased for general corporate purposes, including the employee incentive programme. .As a result of this transaction, the number of Sistema shares held by Sistema Group amounts to 2.7 percent of the company's total share capital..  Full Article

Russia's MTS signs software supply agreement with Ericsson
Thursday, 16 Jun 2016 03:15am EDT 

Mobile TeleSystems (MTS) says: Signed agreement with telecoms equipment maker Ericsson for supplies of software to modernise MTS network until 2019; . Extends existing contract with Ericsson by 3 years, MTS purchases of Ericsson equipment and services could total 1.82 bln euros in 2008-2019. (Reporting by Moscow Newsroom) ((jack.stubbs@thomsonreuters.com; +44 2075 427 477; Reuters Messaging: jack.stubbs.thomsonreuters.com@thomsonreuters.net)).  Full Article

Russia's Sistema says Q1 net profit at 2.5 bln roubles
Thursday, 2 Jun 2016 03:24am EDT 

AFK Sistema says: Q1 net income attributable to the group at 2.5 billion roubles ($37.5 million) vs 31.5 billion roubles in Q1 2015 due to a gain of 35 billion roubles recognised in the first quarter of 2015 as a result of the Ural Invest settlement. . Adjusted net income attributable to Sistema improved as compared to an adjusted net loss of 2.7 billion roubles in Q1 2015, mainly due to foreign exchange gains. . Q1 revenues rose 3.3 percent year-on-year to 173.3 billion roubles. .Q1 adjusted OIBDA flat year-on-year at 44.3 billion roubles..  Full Article

Russia's MTS posts 33 pct rise in Q1 net profit
Thursday, 19 May 2016 08:00am EDT 

Mobile TeleSystems (MTS) says: Q1 net income at 14.5 billion roubles ($218.3 million), up 33.3 percent year-on-year; . Q1 revenues at 108.1 billion roubles, up 7.9 percent year-on-year; . Q1 adjusted OIBDA at 41.3 billion roubles, flat year-on-year; . Q1 OIBDA margin at 38.2 percent vs 41.2 percent in Q1 2015; . Free cash flow at 20.5 billion roubles, up 37 percent year-on-year; . Confirms 2016 forecast for revenue growth in excess of 4 percent, change in adjusted OIBDA of -2 percent to +1 percent, capital expenditures of 85 billion roubles; . The board of directors has approved a three-year share buyback programme for up to 30 billion roubles. Further company coverage: [MBT.N] ($1 = 66.4305 roubles) (Reporting by Moscow Newsroom) ((moscow.newsroom@thomsonreuters.com)).  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO recommends FY 2015 dividend
Monday, 18 Apr 2016 01:00am EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:The board recommended that the AGM approves the total dividend payment for 2015 at 6.47 billion roubles, representing a payment of 0.67 roubles per ordinary share or 13.4 roubles per GDR.The dividend record date as per the board's recommendation to the AGM is July 14, 2016.  Full Article

Moody's upgrades Sistema Aktsionernaya Finansovaya Korporatsiya Sistema OAO to Ba3, stable outlook
Friday, 22 Jan 2016 09:26am EST 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Moody's Investors Service has upgraded to Ba3 from B1 the corporate family rating (CFR) and to Ba3-PD from B1-PD the probability of default rating (PDR), Sistema Joint Stock Financial Corporation (Sistema).The outlook on the ratings is stable.Moody's says its decision to upgrade Sistema's ratings follows the positive outcome for the company of a legal case linked to its prior ownership of oil company Bashneft, and also factors in its ability to maintain financial metrics despite the loss of Bashneft.The stable outlook on Sistema's rating reflects Moody's view that the company is adequately positioned in its current rating category, which is two notches below the rating of its key cash-generating subsidiary MTS.  Full Article

Criminal case against Aktsionernaya Finansovaya Korporatsiya Sistema OAO Chairman dropped
Wednesday, 13 Jan 2016 11:00pm EST 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Criminal case against its majority shareholder and Chairman of the Board of Directors Vladimir Evtushenkov in connection with the acquisition of BashTek group has been dropped as it was found that no crime was committed.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO sells 23.1 pct of Detsky Mir
Monday, 4 Jan 2016 12:00am EST 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Announces that its subsidiary CJSC DM Finance has sold 23.1 pct of Detsky Mir to the Russia-China Investment Fund (RCIF) for a total consideration of 9.75 billion roubles.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO, Gruppa LSR PAO JV wins tender to buy ZIL-Yug
Tuesday, 22 Dec 2015 08:00am EST 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Announces that LLC Razvitie1, a joint venture between the Corporation and LSR Group, has won an open tender for the right to acquire 100 pct of LLC ZIL-Yug for 34.2 billion roubles.The terms of the tender call for payment to be made in instalments over an 8-year period.Sistema plans to finance with its own funds not more than 10 pct of its share of the acquisition cost (or not more than 1.7 billion roubles), with the rest of the funds coming from private investors.The total investment in the project will amount to as much as 135 billion roubles.After the launch of construction in 2017, LLC Razvitie plans to finance the project with proceeds from housing sales and from loans.LLC ZIL-Yug owns development rights for 109.9 hectares in the southern part of the former ZIL car plant.The project will be implemented in 6 to 7 stages; while the deadline for completing construction is Dec. 31, 2026.Sales of housing in the southern part of the ZIL site will commence in middle of 2017.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO completes placement of 1.7 billion roubles bonds
Friday, 13 Nov 2015 01:03am EST 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Announces placement of its 001Р-02 series exchange traded bonds with a total par value of 1.7 billion roubles.The bonds mature in 10 years with 4 year put option (bondholders' right to sell back their bonds to Sistema at par).The coupon was set at 10.90 pct per annum.The Lead-Manager and underwriter - VTB Capital.  Full Article

Russian conglomerate Sistema returns to profit in first quarter

MOSCOW Russia's Sistema conglomerate reported on Thursday a 2.5 billion ruble ($37 million) net income for the first quarter compared to an underlying net loss a year ago, helped by a foreign exchange gain.