PRESS RELEASE

 

Moscow, 24th of June 2019

 

 

BOOST claim to the Property Department of Moscow and to the Administrative Office of the Mayor of Moscow and the Government of Moscow has been entertained an action

In March 2019 BOOST has submitted the claim to the Moscow Arbitrary Court to invalidate actions of the Property Department of Moscow and of the Administrative Office of the Mayor of Moscow and the Government of Moscow thereupon privatisation of the JSC CIMT for the JV creation with the BOOST and the assets of GUP Medical center intended to be for the benefit of PJSC AFK Sistema.

The decision of the court regarding the litigation №40-57494/2019-146-437 the claim has been entertained an action. The date of the next hearing is July 22nd, 2019. 

BOOST is asking to invalidate the action of Property Department of Moscow and the Administrative Office of the Mayor of Moscow and the Government of Moscow thereupon privatization of the JSC CIMT for the JV with the BOOST and the assets of GUP Medical center intended to be for the benefit of PJSC AFK Sistema. Also BOOST has requested to compel the Property Department of Moscow to vindicate the assets from the PJSC AFK Sistema, JSC Group of Companies Medsi, JSC CIMT and to make them private according to the current legislation of the Russian Federation& Also BOOST requested to pay full damages to the state budget of the Russian Federation and to the BOOST. 

At the end of 2017 the Property Department of Moscow, the Administrative Office of the Mayor of Moscow and the Government of Moscow have proposed to the BOOST to invest into the JV CIMT - to acquire 37% of shares of JSC CIMT and to pay the kickback - 50% of the shares. From the economic point of view, it means that for 0,40 Ha of the land property and 1 844,62 m2 of buildings BOOST was obliged to pay 6,827 bln roubles which is equal to $105 mln. 100% of CIMT shares were evaluated for $1,167 bln.

In 2015 PJSC AFK Sistema (LSE listed company) has acquired 188 698,7 m2 of buildings and 98,08 Ha of the land property with the total market value $816,84 mln at the price about $94 mln. Purchasing in 247 times more land and in 102 times more buildings, AFK Sistema has paid 10% less that BOOST was obliged to pay for the 9% of shares. 

BOOST has submitted the claim to the Arbitrary court of Moscow, request to the Investigation Committee of the Russian Federation, to the Federal Security Service to initiate the criminal proceeding.

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