11 Oct 2013 13:45
For immediate release 11 October 2013
Appointment of CHIEF FINANCIAL OFFICER
Global Ports Investments PLC ("Global Ports" or the "Company", together with its subsidiaries and joint ventures, the "Group"; LSE ticker: GLPR) announces that Mr. Mikhail Loganov has been appointed to the position of Chief Financial Officer of the Group, effective 15 October 2013. Mr. Loganov will succeed Mr. Oleg Novikov who has decided to step down for personal reasons.
Nikita Mishin, Chairman of Global Ports, said:
"I wish to convey both my and the Board's deep appreciation for the work Oleg has done for the Group. He has made important contributions to Global Ports through an active and demanding time in developing the Group. I fully respect Oleg's decision to step down from day-to-day operations. I am delighted to have the right and experienced candidate to take up the CFO role. Mikhail and Oleg have worked closely together during the past five years which ensures a smooth transition."
Mr. Loganov has served as a member of the Board of Directors of the Company and been a member of its Audit and Risk and Remuneration Committees since December 2008. He has extensive experience in corporate finance, risk management and business administration acquired during a career primarily across the transportation and logistics industry in Russia. Mr. Loganov has served as a Managing Director and Executive member of the Board of Directors of Globaltrans Investment PLC since April 2008. In that role, he was responsible for financial and reporting activities of Globaltrans as well as having oversight of capital markets and M&A transactions in addition to other responsibilities. Prior to that he held other senior finance positions within Globaltrans group. Mr. Loganov started his career with American Express (Europe) Ltd in the UK as a financial analyst in 2001. Mr Loganov graduated with honours from the University of Brighton in the UK with a degree in Business Studies with Finance.
ENQUIRIES
GLOBAL PORTS:
Investor Relations
Mikhail Grigoriev
+35725 503 163
Email: ir@globalports.com
Media Relations
Anna Vostrukhova
+357 25 503 163
Email: media@globalports.com
StockWell Communications
Laura Gilbert/ Zoe Watt
+44 20 7240 2486
E-mail: globalports@stockwellgroup.com
NOTES TO EDITORS
Global Ports
Global Ports Investments PLC is the leading operator of container terminals in the Russian market.
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 Nakhodka) and two container terminals in Finland (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports Group also owns 75% in Yanino Logistics Park, located in the vicinity of St. Petersburg, and a 50% share in the major oil product terminal, AS Vopak E.O.S., in Estonia.
Global Ports' consolidated revenue[1] for the first six months 2013 was USD 249,135 thousand. Adjusted EBITDA for the first six months of 2013 was USD 137,709 thousand*. The Russian Ports segment handled a total container throughput of approximately 707 thousand TEUs in the first six months of 2013 (excluding Yanino).
Global Ports major shareholders are Transportation Investments Holding Limited (operating under the brand name of N-Trans), one of the largest private transportation and infrastructure groups in Russia (37.5%), and APM Terminals B.V., whose core expertise is the design, construction, management and operation of ports, terminals and inland services with a global terminal network of 62 operating port facilities and 160 Inland Services operations, giving APM Terminals a global presence in 68 countries (37.5%). The remaining 25% of Global Ports shares are in public hands and held in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).
On 2 September 2013, Global Ports announced that it had entered into binding arrangements to acquire (subject to certain conditions) 100% of the share capital of NCC Group Limited. NCC Group Limited, together with its subsidiaries, is an operator of two marine container terminals in the Russian Baltic basin and one in-land container facility in Leningrad region.
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, including the completion of the acquisition of the NCC Group and the Company's ability to realise the benefits of that acquisition.
[1] According to the interim condensed consolidated financial information of Global Ports as at and for the six months ended 30 June 2013.