SITRONICS ANNOUNCES ADMISSION TO TRADING ON THE LONDON STOCK EXCHANGE
LONDON, 13 February 2007 - JSC SITRONICS ("SITRONICS"), a leading
provider of telecommunication solutions, including software,
equipment and systems integration, IT solutions and microelectronic
solutions in Russia and the Commonwealth of Independent States with a
strong presence in Central and Eastern Europe and a growing presence
in the Middle East and Africa announced that its Global Depositary
Receipts (GDRs) have been admitted to the Official List and will
begin trading today on the London Stock Exchange under the ticker
symbol SITR.
SITRONICS' shares are also listed on the Moscow Stock Exchange and
RTS under the ticker symbol SITR.
Evgeni Utkin, SITRONICS' Chief Executive Officer said: "As the first
technology company from Russia to list on the LSE, we are naturally
very pleased with the success of our GDR Offering and the status that
a London listing brings to the Company. We believe that the proceeds
raised from the Offering will allow SITRONICS to further develop its
strengths in all its markets."
SITRONICS
Alexander Boreyko, Investor Relations +7 495 225-98-26
Director +7 916 105-83-35
GAVIN ANDERSON & CO
Byron Ousey +44 207 554 1400
Dick Millard
Daniel Hunter
Michael Turner
ABOUT SITRONICS
SITRONICS is a leading provider of telecommunication solutions,
including software, equipment and systems integration, IT solutions
and microelectronic solutions in Russia and the Commonwealth of
Independent States with a strong presence in Central and Eastern
Europe and a growing presence in the Middle East and Africa.
SITRONICS serves over 3,500 clients, maintains offices in 25
countries and exports its products and services to more than 60
countries. SITRONICS has over 10,000 employees of which approximately
4,600 are involved in research and development.
SITRONICS key business operations are based in Prague, Czech Republic
and Athens, Greece for its Telecommunication Solutions division and
in Kiev, Ukraine and Zelenograd, Russia, for its IT Solutions and
Microelectronic Solutions divisions, respectively.
For the nine months ended 30 September 2006, SITRONICS's revenues and
OIBDA[1] were $1,049.8 million and $114.7 million, respectively. As
of 30 September 2006, SITRONICS had total assets of approximately
$1.6 billion.
SITRONICS is majority owned by Sistema, a leading consumer services
holding company in Russia and CIS.
SITRONICS has developed strategic alliances in its home markets with
Cisco Systems, STMicroelectronics, Infineon and Giesecke & Devrient
in relation to certain products and services. SITRONICS has vendor
relationships with Siemens, Ericsson, Motorola, ORACLE, Intel, Sun
Microsystems and Microsoft. Key customers include Sistema group
companies, such as MTS, Comstar UTS and MTT, and also OTE, Cosmote,
Vodafone, Ericsson, Arcelor Mittal (formerly Mittal Steel), Banca
Intesa and TCL of China.
* * *
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 SITRONICS. 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. These
statements are only predictions and actual events or results may
differ materially. We do not intend to or undertake any obligation 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, and other
factors specifically related to SITRONICS and its operations.
This document does not constitute or form part of any offer or
invitation to sell or issue, or any solicitation of any offer to
purchase or subscribe for, any shares or other securities of
SITRONICS, nor shall any part of it nor the fact of its distribution
form part of or be relied on in connection with any contract or
investment decision relating thereto, nor does it constitute a
recommendation regarding the securities of SITRONICS.
This press release is not for distribution, directly or indirectly,
in or into the United States (including its territories and
dependencies, any State of the United States and the District of
Columbia), Australia, Canada, Japan or the Russian Federation. This
press release is not an offer for sale of any securities in the
United States. Securities may not be offered or sold in the United
States absent registration or an exemption from registration under
the US Securities Act of 1933, as amended, and the rules and
regulations thereunder. SITRONICS has not registered and does not
intend to register any portion of any offering of securities in the
United States or to conduct a public offering of any securities in
the United States.
This announcement is an advertisement and not a prospectus and
investors should not subscribe for or purchase any shares or other
securities referred to in this announcement except on the basis of
information in the prospectus which is intended to be published by
SITRONICS in due course in connection with the admission of GDRs
representing the SITRONICS's shares to the Official List of the UK
Financial Services Authority. Such prospectus will, following
publication, be available in a printed form at the registered office
of SITRONICS.
This document does not constitute an offer of securities to the
public in the United Kingdom. This communication is directed only at
(i) persons who are outside the United Kingdom or (ii) persons who
have professional experience in matters relating to investments
falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2) of the Order (all such
persons together being referred to as "relevant persons"). Any
investment activity to which this communication relates will only be
available to and will only be engaged with, relevant persons. Any
person who is not a relevant person should not act or rely on this
document or any of its contents.
In any EEA Member State that has implemented Directive 2003/71/EC
(together with any applicable implementing measures in any Member
State, the "Prospectus Directive") this communication is only
addressed to qualified investors in that Member State within the
meaning of the Prospectus Directive.
This press release is not an offer, or an invitation to make offers,
sell, purchase, exchange or transfer any GDRs in the Russian
Federation or to the benefit of any Russian person, and does not
constitute an advertisement of the GDRs in the Russian Federation and
must not be passed on to third parties or otherwise be made publicly
available in the Russian Federation. The GDRs have not been and will
not be registered in the Russian Federation and are not intended for
"placement" or "public circulation" in the Russian Federation.
[1] OIBDA is Operating Income Before Depreciation and Amortization
