2 May 2018 07:30
2 May 2018
Etalon Group PLC Notification of AGM
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established residential real estate developers, announces that its annual general meeting of shareholders ("AGM") will be held at 36 Agias Elenis str., Galaxias Building, Block B, 6th floor, office 602, 1061, Nicosia, Cyprus on Friday, 25 May 2018, at 11 a.m. Cyprus time.
The following resolutions will be proposed at the AGM:
ORDINARY RESOLUTIONS:
1. To receive and approve the Company's Consolidated Financial Statements for the financial year ended 31 December 2017, together with the Reports of the Directors and Auditor thereon and the Company's stand-alone Financial Statements for the financial year ended 31 December 2017, together with the Reports of the Directors and Auditor thereon.
2. To approve a final dividend for the year ended 31 December 2017 of USD 0.18 per share, such dividend to be payable on 21 August 2018 to shareholders on record as at 10 August 2018.
3. To appoint KPMG LIMITED as auditor of the Company to hold office from the conclusion of this meeting until the conclusion of the next annual general meeting at which accounts are laid before the Company.
4. To authorise the Directors to set the auditor's remuneration.
5. To re-elect Viacheslav Adamovich Zarenkov as a Non-executive director of the Company.
6. To re-elect Charalampos Avgousti as a Non-executive director of the Company.
7. To re-elect Kirill Bagachenko as an Executive director of the Company.
8. To re-elect Maksim Berlovich as an Executive director of the Company.
9. To re-elect Martin Robert Cocker as a Non-executive director of the Company.
10. To re-elect Alexey Kalinin as a Non-executive director of the Company.
11. To re-elect Dmitry Kashinskiy as an Executive director of the Company.
12. To re-elect Boris Svetlichny as a Non-executive director of the Company.
13. To re-elect Dmitry Viacheslavovich Zarenkov as a Non-executive director of the Company.
The Notice of AGM and Form of Proxy were sent to shareholders on 30 April 2018, and copies of these documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. The Notice of Meeting is also available on the Etalon Group website at www.etalongroup.com
This and other recent announcements are available on the Etalon Group website: http://www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
EM
Sam VanDerlip
T: +44 7554 993 032
T: +7 499 918 3134
E: vanderlip@em-comms.com
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 5.8 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2017 was RUB 9.7 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2017, Etalon Group's assets comprised 38 projects, with a total of 2.82 million sqm of unsold net sellable area, and a construction and maintenance division. Knight Frank valued the Company's assets at RUB 135,197 million.
For the year ended 31 December 2017, Etalon Group's new contract sales totalled 512 ths sqm, or RUB 50,240 million. Deliveries in 2017 amounted to 423 ths sqm.
The Company recorded revenue of RUB 70.6 billion and EBITDA of RUB 13.2 billion for the year ended 31 December 2017.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.