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20 August 2018

Resolutions taken by the EGM

Moscow, Russian Federation (20 August 2018) — Public Joint Stock Company “MegaFon” (LSE: MFON), a pan-Russian operator of digital solutions, (“MegaFon” or the “Company”), announces that MegaFon’s Extraordinary General Shareholders’ Meeting (EGM) at a meeting held by absentee voting on 17 August 2018 took the following resolutions.

To approve execution of major interested party transactions (interrelated major transactions):

  • (i) Revolving Loan Agreement between the Company (the Lender) and MegaFon Investments (Cyprus) Limited (the Borrower) for the term of up to 2 (two) years bearing the interest rate up to 8% (eight per cent) per annum, and/or contributions of the Company to property and/or authorized capital of MegaFon Investments (Cyprus) Limited, or financing in any other way. Total amount of the loan (including interest accrued during the whole loan term) and/or contributions made to the property / the authorized capital of MegaFon Investments (Cyprus) Limited will not exceed RUB 117 bn.
  • (ii) Deed of Indemnity No. 2 replacing Deed of Indemnity No. 1 between the Company and Credit Suisse Securities (Europe) Limited and UBS Limited (hereinafter referred to as the “Banks”) on the following terms:
    • The Company undertakes to indemnify the Banks as well as other parties specified in the Second Indemnity Deed (hereinafter also referred to as the “Indemnified Parties”) for possible expenses, losses and damage, which the Indemnified Parties (including the Banks) may incur in the cases stipulated by the Second Indemnity Deed, including in relation to the Banks acting as dealer managers in connection with the tender offer for ordinary shares of the Company and global depositary receipts representing the ordinary shares of the Company, as earlier announced at: https://corp.megafon.com/investors/news/capital_market_releases/20180716-0900.html, as well as undertakes other obligations stipulated by the Second Indemnity Deed.
  • (iii) Other contracts and agreements, which may be required in pursuance of the said transactions.

Total amount of the Company’s property and obligations under the interrelated transactions together with the property price under the previously concluded interrelated transactions (including the Indemnity Letter between the Company and The Bank of New York Mellon and taking into account that the First Indemnity Deed between the Company and the Banks is replaced by the Second Indemnity Deed) and other contracts and agreements, which may be required in pursuance of the said transactions, is less than fifty (50) per cent of the balance sheet value of assets of the Company determined under the financial statements of the Company as at the last reporting date preceding the date of conclusion of the said agreements.

Consent for execution of the presented transactions is valid until termination of the transactions and discharge of all obligations thereunder by the Company.

Beneficiaries under the Second Indemnity Deed: MegaFon Investments (Cyprus) Limited, Indemnified Parties (including the Banks) and The Bank of New York Mellon.

For More Information:

PJSC MegaFon
Investors: Dmitry Kononov
Director for Investor Relations and M&A
Tel: +7 926 200 6490 dkononov@megafon.ru
Media: Yulia Dorokhina
Head of Media Relations
Tel: +7 926 200 6854 ydorokhina@megafon.ru

Notes to Editors

MegaFon PJSC is a leading Russian integrated telecommunication service provider, operating in all segments of the telecommunications markets in Russia, and in the Republics of Abkhazia, South Ossetia and Tajikistan. MegaFon is a recognized market leader in the provision of mobile data services, was the first operator in Russia to launch commercial operation of a third generation (3G) network and was the first operator in the world to launch commercial operation of an LTE-Advanced (4G) data network. MegaFon is traded on the Moscow Exchange and the London Stock Exchange under the symbol MFON. Additional information about MegaFon and the products and services provided by MegaFon can be found at: http://www.megafon.ru

Cautionary Statement Regarding Forward Looking Statements

Some of the information in this document may contain or refer to projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as “expect”, “believe”, “anticipate”, “estimate”, “forecast”, “intend”, “will”, “could”, “may”, or “might” the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions, and are based upon various assumptions which are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control. We may not achieve or accomplish these plans or predictions. The Company does not necessarily intend 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 projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries in which the Company operates, as well as many other risks specifically related to the Company and its business and operations.

Statement Regarding Inside Information

Some of the information in this document may be inside information. The subject matter, the identity of the issuer, the identity of the persons making the notification and their titles, and the date and time of the notification are all as set forth above.

All news

Other news

20 November 2018

Notice of third quarter / 9 months 2018 results

Public Joint Stock Company “MegaFon” (MOEX: MFON), a pan-Russian operator of digital opportunities (“MegaFon” or the “Company”), will announce its operating and financial results for the third quarter / nine months of the year ended 30 September 2018 on Thursday, 20 December 2018 at 07.00 (London) / 10.00 (Moscow).
14 November 2018

MegaFon announces election of Gevork Vermishyan as CEO

Moscow, Russian Federation (14 November 2018) — Public Joint Stock Company “MegaFon” (MoEx: MFON), a pan-Russian operator of digital opportunities (“MegaFon” or the “Company”), announces that at a General Shareholders Meeting held on 13 November 2018, the shareholders of MegaFon approved the recommendation of the Board of Directors that Gevork Vermishyan be appointed as the Company’s Chief Executive Officer. The appointment is for a three-year term.
6 November 2018

Statement of convocation of EGM

Moscow, Russian Federation (6 November 2018) — Public Joint Stock Company “MegaFon” (MoEx: MFON), a pan-Russian operator of digital opportunities (“MegaFon” or the “Company”), announces that on 2 November 2018 the Board of Directors of MegaFon provided consent to interrelated major transactions — financing by the Company of its wholly-owned subsidiary MegaFon Finance LLC (the “Financing”) and provision of a suretyship with respect to a bank guarantee that may be obtained by MegaFon Finance LLC, and resolved to convene an Extraordinary General Meeting of Shareholders (“EGM”) on 6 December 2018 in the form of absentee voting to consent to the above interrelated major interested party transactions.