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Company News SECURITIES MARKET NEWS LETTER Weekly SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody July 04, 2019 Issue No. 2019/24 Company News Future Financial Group holders approve cutting capital to RUB 6 bln On June 27, 2019 it was disclosed that the shareholders of Russia’s Future Financial Group have approved reduction of the charter capital to RUB 6 bln from RUB 50.293 bln by decreasing the face value of common shares. Future will not pay any funds to the shareholders during the operation. Qiwi appoints Poshmorga from Social Discovery Ventures as CFO On June 27, 2019 Russian payment system operator Qiwi stated that it had appointed Vladislav Poshmorga from international Internet holding Social Discovery Ventures as chief financial officer (CFO) from July 1. Poshmorga has over 20 years of experience in finance. Most recently, he served as a chief investment officer at Social Discovery Ventures, an international group of technology and software engineering companies. As CFO, Poshmorga will take over the responsibilities of interim CFO Varvara Kiselyova and report directly to CEO Sergei Solonin. Kiselyova was appointed as deputy CFO for capital markets and Yelena Nikonova, who previously served as head of IFRS reporting at Qiwi, as deputy CFO for financial reporting. FESCO reelects Leila Mammed Zade as board chairwoman On June 27, 2019 it was stated that Far-Eastern Shipping Company (FESCO) had reelected former head of parent holding Summa Leila Mammed Zade as the chairwoman of the board of directors. Earlier in June, the shareholders of FESCO reelected the board of directors in its current lineup. TransContainer’s directors prolong CEO Sarayev’s powers for 3 years On June 27, 2019 it was stated that the board of directors of Russian railway container operator TransContainer had prolonged powers of Vyacheslav Sarayev as the CEO of the company for three more years. Sarayev became the CEO of TransContainer on June 29, 2018 replacing Pyotr Baskakov, who had been the company’s CEO for 12 previous years. Viktor Zubkov re-elected as chairman of Gazprom board On June 28, 2019 it was disclosed that the shareholders of Russian gas giant Gazprom had re-elected the entire board of directors, including Viktor Zubkov, the chairman. The board of directors also includes Gazprombank CEO Andrei Akimov, Industry and Trade Minister Denis Manturov, Gazprom CEO Alexei Miller, Energy Minister Alexander Novak, and Agriculture Minister Dmitry Patrushev. Lisin's Fletcher Group sells off 2.6% of NLMK On June 27, 2019 Goldman Sachs said in a statement that Fletcher Group, a company associated with Russian businessman Vladimir Lisin, the core beneficiary of steelmaker Novolipetsk Steel (NLMK), was offering around 158 mln shares, or 2.6% of NLMK's capital. Goldman Sachs is the offering's organizer. The bids are collected from non-U.S. investors using a forced book building mechanism. Fletcher Group's stake will fall to 81% after the deal. No new offerings of NLMK shares will take place in the next 90 months. 1 Yandex holders approve board expansion to 10 members On June 28, 2019 it was stated that the shareholders of Russian Internet company Yandex had approved three re-appointments and two new appointments to its board of directors, which now counts 10 members. It was mentioned that Rogier Rijnja, Charles Ryan, and Alexander Voloshin were re-appointed as non- executive members of the board of directors for a 3-year term, Mikhail Parakhin was appointed as a non- executive member of the board of directors for a 1-year term, and Tigran Khudaverdyan was appointed as an executive member of the board for a 1-year term. Now the board has 10 members, including Yandex’ co- founder Arkady Volozh and Sberbank CEO German Gref. Credit Bank of Moscow gets 19.65% in Pharmacy Chain 36.6 On June 28, 2019 it was stated that Credit Bank of Moscow had received 19.65% voting shares in Pharmacy Chain 36.6 during the final restructuring of the company’s debts. The bank’s CEO Vladimir Chubar said that the bank views this investment as a long-term. He added that there are positive changes in the company and he sees a potential for improvement in operational performance. MTS holders approve Sistema exec Felix Yevtushenkov as board chair On June 28, 2019 it was stated that the shareholders of major Russian mobile operator MTS had approved Felix Yevtushenkov, deputy chairman of the board of directors of multi-industry holding Sistema, the operator’s main holder, as chairman of the board of directors. Yevtushenkov will replace at this position Ron Sommer, former president of Deutsche Telekom, who had been chairing MTS’ board of directors since 2009. Felix Yevtushenkov is a son of Vladimir Yevtushenkov, key shareholder and chairman of Sistema’s board of directors. MegaFon owners replace 2 members on board of directors On July 01, 2019 it was stated that the shareholders of Russian mobile operator MegaFon have replaced two members on the board of directors. The board was joined by Igor Ivanov, executive director advisor at USM Management, and Anton Rybalkin, head of the corporate management direction at USM Management. Frederic Vanoosthuyze, chief technology and IT officer at MegaFon, and Yelena Martynova, director for strategic communications at MegaFon, left the board. The other seven members were re-elected. Moody’s withdraws ratings of Orient Express Bank On July 02, 2019 International rating agency Moody’s stated that it had withdrawn all ratings of Russia’s Orient Express Bank, including the long-term bank deposit rating of Caa1, long-term counterparty risk rating of B3, long-term counterparty risk assessment of B3(br), and baseline credit assessment of caa1. At the time of withdrawal, all ratings had a Negative outlook. The agency said that it had decided to withdraw the ratings for its own business reasons. Otkritie FC Bank elects Yudayeva as board chairwoman On July 02, 2019 it was stated that the supervisory board of Otkritie Financial Corporation (FC) Bank had elected First Deputy Chairwoman of the Central Bank Ksenia Yudayeva as the chairwoman of the board. The central bank owns 99.99% in Otkritie FC Bank. Lukoil buys back RUB 662.3 mln shares and USD 18.67 mln GDRs On July 02, 2019 it was stated that Lukoil Securities Limited, a unit of Russian oil major Lukoil, paid RUB 662.3 mln rubles to buy 125,323 shares and USD 18.67 mln to buy 221,760 global depositary receipts (GDRs) from the open market on June 17–21. Lukoil bought the securities at the weighted average price of RUB 5,285 per share and of USD 84.19 per GDR. In August 2018, Lukoil announced a USD 3 bln buyback program that will be valid through December 30, 2022. Surgutneftegas appoints Vladimir Yerokhin as board chairman On July 02, 2019 it was stated that the board of directors of Russia’s Surgutnefetgas had elected Vladimir Yerokhin as the chairman of the board. The board of directors elected Nikolai Matveyev as deputy chairman. Otkritie FC Bank files RUB 290 bln suit against former owners, executives On July 02, 2019 it was be reporters in the register of arbitration proceedings that Russia’s Otkritie Financial Corporation (FC) Bank had filed a RUB 289.52 bln suit against the company’s former owners and top executives, as well as against Otkritie Holding. The bank submitted its suit to the Moscow Arbitration Court on July 01, and the court is yet to schedule a preliminary hearing. The list of defendants includes the bank’s former CEO Yevgeny Dankevich, former President Ruben Aganbegyan, founder Vadim Belyayev, former members of the executive board Yelena Budnik and Gennady Zhuzhlev, and Otkritie Holding. In 2017, Otkritie FC Bank was the first large Russian bank that was bailed out by the regulator via the Banking Sector Consolidation Fund, which made the central bank the major owner of the troubled bank. 2 Dividends/coupons T Plus holders approve paying 14.62 kopecks per share in 2018 dividends On June 26, 2019 it was disclosed that the shareholders of Russian power utility T Plus had approved paying 14.62 kopecks per common share, including interim dividends, in dividends for 2018. The record date is July 2. Rosseti owners decide against dividends for 2018, but approve January–March dividends On June 27, 2019 it was revealed that the shareholders of Russian state power grid holding Rosseti had decided against paying final dividends for 2018, but approved payment of 2.443 kopecks per common share and 7.997 kopecks per preferred share in dividends for January–March 2019. The combined payout for the first quarter will amount to RUB 5.03 bln, more than double the sum of RUB 2.468 bln that the company paid for January–March 2018. Rosseti paid no dividends for 2013–2015 and 2017, but paid a total of RUB 3.785 bln in dividends for 2016, including interim dividends for January–March and final dividends for the year. The Federal State Property Management Agency holds 88.04% in Rosseti. Executive says MTS could pay RUB 17 bln in dividends for January–June On June 27, 2019 it was reported that according to Vice President for Finance, Investments and M&A of major Russian mobile operator MTS Andrei Kamensky who spoke at an annual general meeting of shareholders, the company could pay RUB 17 bln rubles in dividends for January–June. He said that the total amount of dividends to be paid on 2018 results could amount to some RUB 40 bln. At that the company continues to pay dividends twice a year, and the amount of dividends for the first half of 2019 is seen at RUB 17 bln.
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