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25.09.2007 SITRONICS PRICES FIRST RUB 3 BILLION BOND ISSUEMOSCOW, Russia – September 25, 2007 – JSC SITRONICS (“Sitronics” or “The Company”) (LSE: SITR), a leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, with a growing presence in other EEMEA emerging markets, today announced the pricing of its first rouble-denominated bond issue. The 3-year RUB 3 billion issue was priced at 100% with an annual coupon of 10% and a put option after 1.5 years at which time the coupon rate could be reset. Coupon payments will be made on a semi-annual basis. Troika Dialog acted as a Lead Manager and Petrokommerts Bank acted as a Co-Lead Manager. Investment Group “Capital” acted as an Underwriter of the issue. Application has been approved to list notes on the Moscow Interbank Currency Exchange (MICEX). Dmitry Ivanov, Chief Financial Officer and First Vice President for Finance and Investments of SITRONICS, commented: “The placement of the first rouble-denominated bond issue is in line with our previously stated intention to refinance part of our US dollar denominated debt into local currency and allow us to increase the visibility in our cash flows.” *** For further information, please visit www.sitronics.com or contact:
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 32 countries and exports its products and services to more than 60 countries. SITRONICS has over 10,000 employees. SITRONICS’ key Telecommunication Solutions operations are based in Prague, Czech Republic and Athens, Greece and Moscow, Russia, while the company’s IT Solutions and Microelectronic Solutions divisions are based in Kiev, Ukraine and Zelenograd, Russia, respectively. For the six months ended June 30, 2007, SITRONICS’ revenues were US$ 638.3 million. As of 30 June 2007, SITRONICS had total assets of US$ 1.7 billion. SITRONICS is majority owned by Sistema, the largest diversified 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 and TCL. 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. 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 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. Back to «Press Releases» |
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