Sistema has applied to the Ministry of Finance for permission not to take actions to carry out automatic conversion of GDR until the end of the permitted period for the continuation of their appeal

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AK&M 17 August 2022 13:31

Sistema has applied to the Ministry of Finance of the Russian Federation for permission not to perform actions for the automatic conversion of AFK's global depositary receipts until the end of the permitted period for the continuation of their circulation. This is stated in the company's message.

Earlier, at the request of AFK Sistema, the Government Commission of the Russian Federation issued permission to continue the circulation of the corporation's GDR outside the Russian Federation until May 13, 2023.

PJSC Joint Stock Financial Corporation Sistema (AFK Sistema, TIN 7703104630) is a public diversified corporation serving more than 150 million consumers in such industries as telecommunications, high technology, banking services, retail trade, timber processing, agriculture, real estate, tourism and medical services. The company was founded in 1993. Sistema's global depositary receipts are traded under the SSA ticker on the London Stock Exchange. The company's ordinary shares are admitted to trading under the ticker AFKS on the Moscow Stock Exchange. The authorized capital of Sistema is 868.5 million rubles and is divided into 9.65 billion ordinary shares with a par value of 0.09 rubles. The main shareholder is Vladimir Yevtushenkov.

Sistema's net loss under IFRS for the first quarter of 2022 amounted to RUB 18.5 billion against a loss of RUB 2.4 billion a year earlier. Adjusted net loss amounted to RUB 10.58 billion. Revenue increased by 26.2% to RUB 216.4 billion. Adjusted OIBDA increased by 22% to 69.4 billion rubles. The group's capital expenditures increased by 38.5% to 52.3 billion rubles.