ROSTELECOM’S BOARD OF DIRECTORS SETS DATE FOR ANNUAL GENERAL MEETING
OF SHAREHOLDERS AND RECOMMENDS DIVIDEND PAYMENT FOR 2013RUB 4.848555414552 per Class A preferred share;
The dividend per ordinary share is calculated as follows: the total
sum of RUB 8,824 mln, excluding the accrued dividends on the Class A
preferred shares, divided by the amount of Rostelecom ordinary shares
outstanding as at July 14, 2014 (excluding the treasury shares on
Rostelecom’s balance sheet1).
Moscow, Russia – May 20, 2014 – Rostelecom OJSC (MOEX: RTKM,
RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator,
today announces that its Board of Directors has set the date for the
2013 Annual General Meeting of Shareholders (the “AGM”).
The Board has decided that the AGM will be held on June 30, 2014 in the
conference hall of the Radisson Slavyanskaya Hotel and Business Centre,
Europe Square, 2, Moscow.
The Board has also approved the record date of May 30, 2014 for
registered shareholders eligible to participate in the AGM. The record
date for receiving dividends has been set at July 14, 2014.
Rostelecom’s Board of Directors has recommended that the AGM approves a
2013 dividend payment on both ordinary and preferred shares of RUB 8,824
million, or 25% of RAS net profit for 2013, which amounts to 37% of net
profit for 2013 according to the International Financial Reporting
Standards (IFRS). The dividends are to be paid as follows:
The 2013 AGM materials will be available on Rostelecom’s official
website 30 days prior to the meeting at http://www.rostelecom.ru/ir/agm/.
For more information please visit http://www.rostelecom.ru/en/ir
“Rostelecom Investor Relations / Rostelecom IR” application is
now available to download for free from the Apple App Store and Google
Investor Relations Department
Tel. +7 (499) 995 97 80
is one of the largest national telecommunications operators in Russia
and Europe. The Group operates in all segments of the telecommunications
market and covers more than 34 million households.
Rostelecom is an undisputable leader of the broadband and pay-TV markets
in Russia with over 10.6 million fixed-line broadband subscribers and
over 7.5 million pay-TV subscribers.
The Group generated RUB 325.7 billion of consolidated revenues, RUB
113.3 billion of OIBDA (34.8% of revenues) and RUB 24.1 billion of net
income for the 12 months ended December 31, 2013.
The Group is a market leader in providing telecommunications services to
government bodies and corporates of all levels. It is also an important
innovator that provides solutions in the field of medicine,
E-Government, cloud computing, education, security and housing & utility
Rostelecom was assigned ‘BBB-’ and ‘BB+’ international credit ratings by
Fitch Ratings and Standard & Poor’s respectively.
* * *
Management’s assessment of the Company’s future operating and
financial results as well as forecasts of the present value of future
cash flows and related factors;the Company’s anticipated capital expenditures and plans to
construct and modernize its network;the Company’s expectations as to the growth in demand for its
services, plans relating to the expansion of the range of its services
and their pricing;the Company’s plans with respect to improving its corporate
governance practices;the Company’s expectations as to its position in the
telecommunications market and the development of the market segments
within which the Company operates;economic outlook and industry trends;the Company’s expectations as to the regulation of the Russian
telecommunications industry and assessment of impact of regulatory
initiatives on the Company’s activity;other statements regarding matters that are not historical facts.
Certain statements in this press release are forward-looking
statements within the meaning of the U.S. federal securities laws and
are intended to be covered by the safe harbors created thereby.
Those forward-looking statements include, but are not limited to:
Such forward-looking statements are subject to risks, uncertainties
and other factors, which could cause actual results to differ materially
from those expressed or implied by these forward-looking statements.
These risks, uncertainties and other factors include:
risks relating to changes in political, economic and social
conditions in Russia as well as changes in global economic conditions;risks relating to Russian legislation, regulation and taxation,
including laws, regulations, decrees and decisions governing the
Russian telecommunications industry, securities industry as well as
currency and exchange controls relating to Russian entities and their
official interpretation by regulatory bodies;risks relating to the Company, including the achievement of the
anticipated results, levels of profitability and growth, ability to
create and meet demand for the Company’s services including their
promotions, and the ability of the Company to remain competitive in a
liberalized telecommunications market;technological risks associated with the functioning and development
of the telecommunications infrastructure, technological innovations as
well as the convergence of technologies;other risks and uncertainties. For a more detailed discussion of
these and other factors, see the Company’s Annual Report and the
Company’s other public filings.
Many of these factors are beyond the Company’s ability to control or
predict. Given these and other uncertainties, readers are cautioned not
to place undue reliance on any of the forward-looking statements
contained herein or otherwise. The Company does not undertake any
obligation to release publicly any revisions to these forward-looking
statements (which are made as of the date hereof) to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable laws.
1 Subject to the provisions of sub-section 2, article 76 of
the law on Joint Stock Companies
Source: Rostelecom OJSC