On imposing a ban to dispose of property

On 2 November 2015, the Bank of Russia decided to impose a six-month ban on Sadko Finance Management Company, limited liability company, to dispose of property comprising, under trust management agreements with all non-governmental pensions funds, pension reserves and pension savings, and to pay compensations and (or) fulfill obligations under transactions at the expense of the said property, excluding actions aimed at elimination of violations of the Russian Federation legislation.

This decision was taken due to the company’s failure to comply with Bank of Russia instructions to eliminate violations of the Russian Federation legislation and becomes effective as of the day of its approval.

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02.11.2015 00.00.00