“System” has denied the sale of top managers of the company – RBC

"System" has denied the sale of top managers of the company – RBC

Photo: Ekaterina Kuzmina / RBC

President of the “System” Shamolin said RBC, he brought his package from the roster on a brokerage account in the MTS-bank. He sold a small part of their package (about 10% of the total), but only after the arrest of shares “Bashneft”.

Earlier media reported that a number of leaders of the “System”, including its president, Mikhail Shamolina, his deputy Sergey Drozdov and members of the board of directors (David Yakobashvili, Sergei combat and Dmitry Zubov) sold their shares on July 9.

Less than a week – July 15 – became aware of the arrest of shares “Bashneft”, belonging to the “System”. Paper have been arrested in the investigation of the criminal case against Rakhimov, Jr., who is accused of embezzlement and money laundering in the sale of the “System” enterprises of Bashkir FEC. A few days later for questioning to the Investigative Committee was called the owner of “systems” Vladimir Yevtushenko. The news of the action “systems” for two weeks after the arrest of the securities fell by 20%.

For information on changes of shares held by the members of the Board of Directors and senior management, the company is required to disclose material facts in, but according to notification of AFK “Sistema”, July 9, members of the Board of Directors, on the contrary, increased their packages. So, for example, Shamolin increased its stake in the company from 0.1561 to 0.1568%. A packet belonging to the deputy chairman Alexander Goncharuk increased from 0.1884 to 0.1892%. Source in the “System” added that the shares were received under the stock option plan of the company.

Since July, shares sold only vice-president of “System” Sergey Drozdov: during the two transactions – 17 and July 28 – its share decreased from 0.2293 to 0.0738%. From a legal point of view, such a transaction is not subject to an article on insider information, said Anastasia Shevchenko, Senior Associate “Nektorov, Saveliev and Partners”. The shares were sold after his arrest, which publicly reported by the company. In addition, the arrest of shares made state agencies and public information about the arrest is not an insider. By law, insider information – an internal company information that may affect the price of shares on the market, says the lawyer.

In general, July 15, when it became aware of the arrest of shares “Bashneft” capitalization “System” decreased by almost 70%, to 146 billion rubles. The most noticeable drop in prices of the company – almost 40% – happened on September 17, the day after the law enforcement authorities issued Vladimir Evtushenko prosecution in a criminal case on the illegal privatization of shares of “Bashneft”. Yevtushenko is now under house arrest. In the Court of Arbitration filed a lawsuit for the recovery of the state in favor of 71.76% of the voting shares of “Bashneft”, owned by AFK “System”, and another 9.91% controlled by the “Sistema-Invest».

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