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Decisions of the Board of Directors
16 April 2008
Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announced the decisions reached at the Board of Directors meeting held on April 14, 2008. At the meeting, MTS’ Board of Directors (BoD) set the date for the annual general meeting of shareholders (AGM) for June 27, 2008. The record date for the Company’s share- and ADR-holders entitled to participate in the AGM and to receive dividends for 20071 has been set for May 8, 2008.
A total of eight candidates have been nominated for election to the BoD:
- Mr. Anton Abugov, First Vice-President, Head of Strategy and Development, Sistema;
- Mr. Alexey Buyanov, Senior Vice President, Head of Financial Group, Sistema;
- Mr. Sergei Drozdov, Senior Vice President, Head of the Property Group, Sistema;
- Ms. Tatiana Evtushenkova, Advisor to the President of MTS;
- Mr. Mohanbir Gyani, independent candidate;
- Mr. Leonid Melamed, President and CEO of MTS;
- Mr. Paul Ostling, independent candidate;
- Mr. Vitaliy Savelyev, First Vice President, Head of telecommunications asset management division, Sistema.
Other issues entered into the AGM agenda by MTS’ BoD include:
- Reorganization and approval of a merger of BashCell and MSS into MTS;
- The approval of the Russian version of the Company’s 2007 annual report;
- Approval of the Company’s financial statements for the year 2007;
- Approval of dividend amount for the year 2007;
- Election of members to the Company’s Auditing commission;
- Approval of the Company’s Auditor; and
- Approval of the Statute on compensation of members of the Company’s BoD.
For further information, please contact:
Mobile TeleSystems, Moscow
Investor Relations
tel: +7 495 223 2025
e-mail: ir@mts.ru
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Mobile TeleSystems OJSC (“MTS”) is the largest mobile phone operator in Russia and the CIS. Together with its subsidiaries, the Company services over 83.88 million subscribers. The regions of Russia, as well as Armenia, Belarus, Turkmenistan, Ukraine, and Uzbekistan, in which MTS and its associates and subsidiaries are licensed to provide GSM services, have a total population of more than 230 million. Since June 2000, MTS’ Level 3 ADRs have been listed on the New York Stock Exchange (ticker symbol MBT).
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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 MTS, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward looking statements by terms such as “expect,” “believe,” “anticipate,” “estimate,” “intend,” “will,” “could,” “may” or “might,” and the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. We refer you to the documents MTS files from time to time with the U.S. Securities and Exchange Commission, specifically the Company’s most recent Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, potential fluctuations in quarterly results, our competitive environment, dependence on new service development and tariff structures, rapid technological and market change, acquisition strategy, risks associated with telecommunications infrastructure, risks associated with operating in Russia and the CIS, volatility of stock price, financial risk management and future growth subject to risks.
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