The owner of AFK Sistema responded to the claims of Rosneft

Vladimir Yevtushenkov vainly believes that in a dispute with the oil company, "the reason will triumph."
The annual meeting of shareholders of AFK Sistema was held in Moscow. He was personally led by the chairman of the board of directors and the main shareholder of the company Vladimir Evtushenkov. The shareholders were gathered in the lobby of the AFK Sistema office, next to the elevators. To the left of the elevators, a buffet for shareholders was organized. On the right, the stage and four rows of chairs were placed (it no longer fit). The meeting room turned out to be small, some shareholders had to stand in the aisles.

The gathered owned 87% of the vote, a quorum was held. Among the shareholders were many people of retirement age. Among themselves, the participants discussed not so much the current economic state of the company as the judicial vicissitudes with Rosneft.

 President and Chairman of the Board of AFK Sistema Michael Shamolin listed the list of assets of the company and said that consolidated revenues increased by 3% and EBITDA by 6%. Financial liabilities decreased by 33%.

For 2016 it is recommended to send almost 8 billion rubles. For payment of dividends. "Given our dispute with Rosneft and the dynamics of our shares, Sistema's dividend yield this year will be above 6% ... The company decided to send 7.8 billion rubles. On dividends for 2016 results. For the entire 2016, taking into account interim dividends, the company will pay to shareholders a total of 11.5 billion rubles, "Shamolin said.

 One of the shareholders asked if Sistema plans to involve a third party to resolve the conflict with Rosneft. Shamolin responded that involving a third party to conduct an independent examination would help resolve the dispute. Answering the question of Vedomosti, Shamolin noted that any internationally respected company could be an expert.

Rosneft believes that Bashneft lost 170.6 billion rubles. When reorganizing the ownership structure in 2013-2014. The plaintiffs point out that the reorganization was "economically extremely negative for Bashneft". Sistema JSFC has repeatedly claimed that the claim was completely unfounded. Shamolin believes that the position of AFK Sistema is impeccable and the company will be able to prove its case in court.

The hearing on the merits of the suit is scheduled for June 27. Earlier, AFK Sistema offered Rosneft to settle the dispute out of court. After this statement, the company's shares began to appreciate.

The shareholders discussed the agenda for 30 minutes, the remaining time was devoted to the answers to the questions. One of the shareholders asked why Sistema still does not have sturgeon at meetings of Sistema. Another asked to deal with MTS-bank and "bad" loans. Another asked to put on record the need to write a collective letter to Supreme Court Chairman Vyacheslav Lebedev in defense of AFK Sistema. There was applause in the hall.

In general, the meeting lasted about an hour. All nominated candidates for the Board of Directors of AFK Sistema were elected. Evtushenkov thanked the shareholders for their support. "You understand that without such corporate disputes you can not do. The mind will triumph, this page will be passed. There were many ambushes and obstacles during the decades of our existence. But, despite this, the company blossoms and develops, "he said.