17 Apr 2012 11:47
For immediate release 17 April 2012
Global Ports Investments PLC announces the results
of its Annual General Meeting
Global Ports Investments PLC ("Global Ports", and together with its subsidiaries and joint ventures, "the Group"), (LSE ticker: GLPR) announces that the Company held its Annual General Meeting of shareholders ("AGM") on 17 April 2012 under the chairmanship of Mr. Konstantin Shirokov, Non-Executive Director.
The AGM was held at 6 Karaiskakis Street, City House, P.C. 3032, Limassol, Cyprus on 17 April 2012 at 11:00am, and had a quorum with 470,000,001 shares, corresponding to 100% of the issued shares, represented by corporate representatives.
The AGM adopted the following key resolutions:
1. Adoption of the statutory audited parent company and consolidated financial statements of the Company for the financial year ended 31 December 2011 together with the reports of directors and independent auditors. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
2. Re-appointment of PricewaterhouseCoopers Limited as auditors of the Company, which will hold office until the conclusion of the next general meeting at which the accounts are put before the Company, and authorisation of the Board of Directors to determine the remuneration of the auditors. This resolution was passed by a majority of all the members present at the meeting with 398,673,006 votes in favour, no votes against and 71,326,995 shares abstaining from voting.
3. Mrs. Siobhan Walker was re-elected as a director of the Company for a period of three years to hold the office until the conclusion of the annual general meeting of shareholders in 2015 with an annual gross remuneration of EUR75.000,00. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
4. The annual gross remuneration of Capt. Bryan Smith for the fulfillment of the Company's director's duties was fixed at USD290.000,00. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
5. The annual gross remuneration of Mr. Alexander Iodchin for the fulfillment of the Company's director's duties was fixed at EUR246.000,00. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
6. The annual gross remuneration of Mr. Michael Thomaides for the fulfillment of the Company's director's duties was fixed at EUR50.424,00. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
7. The annual gross remuneration of Mr. Alexander Pevzner for the fulfillment of the Company's director's duties was fixed at USD290.000,00. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
8. The annual gross remuneration of Mrs. Elia Nicolaou for the fulfillment of the Company's director's duties was fixed at EUR1.000,00. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
9. The annual gross remuneration of Mr. Marios Tofaros for the fulfillment of the Company's director's duties was fixed at EUR1.000,00. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting.
10. Approval of the distribution by the Company of final dividends in respect of the financial year ended on 31 December 2011 in the amount of 7 US cents per ordinary share. This resolution was passed by a majority of all the members present at the meeting with 398,782,398 votes in favour, no votes against and 71,217,603 shares abstaining from voting. As announced on 4 April 2012, the dividend record date was set as 17 April 2012 with the payment date on 18 April 2012. Holders of the Global Depositary Receipts of the Company ("GDRs") will receive the dividends approximately 3 business days after the payment date. The GDRs were marked ex-dividend on 13 April 2012.
RELATED MATERIALS
The Minutes of the AGM are available at the registered office of the Company at Omirou 20, Agios Nikolaos, CY-3095 Limassol, Cyprus.
The Group and the Company audited financial statements, together with the reports of the directors and the auditor for the financial year ended 31 December 2011, will be available as the appendices to the Global Ports' Annual Report and Accounts for 2011 which will be available on or after 30 April 2012 at (i) the registered office of the Company at Omirou 20, Agios Nikolaos, CY-3095 Limassol, Cyprus; (ii) the Global Ports' corporate website (www.globalports.com) and (iii) the National Storage Mechanism of the UK Listing Authority, located at www.hemscott.com/nsm.do.
ENQUIRIES
Global Ports Investor Relations
Sergey Stikharev
+357 25 503 163
Email: irteam@globalports.com
Global Ports Media Relations
Anna Vostrukhova
+357 25 503 163
Email: media@globalports.com
Holloway & Associates
Laura Gilbert
+44 20 7240 2486
Email: globalports@rholloway.com
NOTES TO EDITORS
Global Ports Investments PLC is the leading operator of container terminals in the Russian market. Global Ports accounts for 30% [1] of the total container volumes in the Russian ports and 23% [2] of the total exports of fuel oil from the former Soviet Union countries. Global Ports is part of N-Trans group, one of the largest private transportation and infrastructure operators in Russia. Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates three container terminals in Russia (Petrolesport and Moby Dik in St. Petersburg, Vostochnaya Stevedoring Company in the Vostochny Port) and two container terminals in Finland (Multi-Link Helsinki and Multi-Link Kotka). Global Ports also includes Yanino Logistics Park located in the vicinity of St. Petersburg and a major oil terminal Vopak E.O.S. in Estonia.
Global Ports' consolidated revenue for the year ended 31 December 2011 was USD 501.3 million (up 31% year on year). Adjusted EBITDA for the year ended 31 December 2011 was USD 282.2 million (up 37% on the year ended 31 December 2010).
The Group's Russian Ports segment handled a total container throughput of approximately 1,344 thousand TEUs in 2011 (excluding Yanino), a 44% increase on 2010.
In June 2011 Global Ports listed its GDRs at the Main Market of the London Stock Exchange (GLPR).
For more information please see: www.globalports.com
LEGAL DISCLAIMER
Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. The Company wishes to caution you that these statements are only predictions and that actual events or results may differ materially. The Company does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries the Company operates in, as well as many other risks specifically related to the Company and its operations.
[1] Source: ASOP, as of 2011
[2] Source: Argus Nefte Transport, as of 2011