Sistema Finance sells 8.5m MTS shares as part of share buyback program

Sistema Finance S.A. sold 8,456,757 ordinary shares of PJSC MTS (hereinafter, “MTS”) to a subsidiary of MTS, LLC Stream Digital (“the Purchaser”), as part of the MTS share buyback programme (“the Programme”), which was approved by the Board of Directors of MTS in April 2016 and will be effective until April 2019. The amount of the transaction was approximately RUB 2,387.6 million.  In accordance with the terms of the Programme, the number of shares for the purpose of the transaction was calculated based on the number of ordinary shares and American depositary shares of MTS purchased by the Purchaser in the open market in September 2017 in proportion to Sistema Group’s effective equity stake in MTS.

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