3 Oct 2016 13:00
For immediate release 3 October 2016
Global Ports Investments PLC
EGM announcement
Global Ports Investments PLC ("Global Ports" or the "Company", together with its subsidiaries and joint ventures, the "Group" or the "Global Ports Group"; LSE ticker: GLPR) announces that the Extraordinary General Meeting of the Members of Global Ports Investments Plc ("The Company") will be held at KIBC, Office 201, Profiti Ilia Str, 4, Germasogeia, CY-4046, Limassol, Cyprus on 31 October 2016 at 10-00am (Cyprus time), to consider and, if thought fit, pass resolutions 1 to 4, being items of ordinary business as follows:
1. To approve the resignation of Mr. Kim Fejfer as the director of the Company with immediate effect and to terminate his authorities as director of the Company with immediate effect.
2. To approve the resignation of Mrs. Chrystalla Stylianou as the director of the Company with immediate effect and to terminate her authorities as director of the Company with immediate effect.
3. To elect Mr. Morten Engelstoft as a director of the Company until the next annual general meeting of shareholders of the company with no remuneration.
4. To elect Mr. Nicholas Charles Terry as a director of the Company until the next annual general meeting of shareholders of the company with no remuneration.
Annex to the Announcement: Brief biographies of the candidates for the Board of Directors
Mr. Morten Engelstoft
Mr. Engelstoft has been appointed APM Terminals CEO effective November 1, 2016. Prior to that he was CEO of APM Shipping Services since 2014. From 2007 until 2013, he was Chief Operating Officer of Maersk Line, where he was responsible for global operations, procurement, fleet, technical vessel management and the sustainability strategy.
He joined Maersk in 1986 and has three decades of experience in the container shipping industry. He has held various senior executive positions at Maersk in Singapore, Italy, Taiwan, and Vietnam. Mr. Engelsoft is also Chairman of the Technical Innovation Board at A.P. Møller - Mærsk.
Mr. Engelstoft holds a Business Degree from Copenhagen Business School, a Shipping Degree from A.P. Møller - Mærsk Shipping School, and an Executive MBA from IMD in Switzerland.
Mr. Nicholas Charles Terry
Mr. Terry is a member of The Institute of Chartered Accountants in England and Wales (ICAEW). He is currently Director of Operations at Vistra (Cyprus) Ltd., having led the client accounting department since 2011. In 2015, he was also appointed Managing Director of Orangefield (Cyprus) Ltd. for the interim period of the merger of the two companies.
He has extensive experience in Finance and Audit at a range of companies, including land, air and sea security service provider Hart Security Ltd. and Global Management Ltd., which offers marine insurance brokerage and crew management services to the shipping industry.
Mr Terry holds a BSc in Mathematics from the University of Hull, England.
ENQUIRIES
Global Ports Investor Relations
Mikhail Grigoriev / Yana Gabdrakhmanova
+357 25 313 475
Email: ir@globalports.com
Global Ports Media Relations
Anna Vostrukhova
+357 25 313 475
E-mail: media@globalports.com
Teneo Blue Rubicon
Laura Gilbert / Sabine Pirone
+44 20 7260 2700
E-mail: globalports@teneobluerubicon.com
NOTES TO EDITORS
Global Ports Investments PLC is the leading operator of container terminals in the Russian market as measured by container throughput.
Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates or has joint venture interests in five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal[1] and Moby Dik[2] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[3] (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports also owns or has joint venture interests in inland container terminals Yanino Logistics Park[4] and Logistika-Terminal, both located in the vicinity of St. Petersburg, and has a 50% stake in the major oil products terminal AS Vopak E.O.S.[5] in Estonia.
Global Ports' consolidated revenue for the first half of 2016 was USD 163.7 million and Adjusted EBITDA was USD 111.5 million*. The total marine container throughput was 771 thousand TEU* in the first half of 2016.
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 (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operates a global terminal network of 75 ports and 140 inland services facilities, giving the company a global presence in 69 countries. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).
*Certain financial and operational information which is derived from the management accounts is marked in this announcement with an asterisk {*}. Reconciliations and definitions for Adjusted EBITDA can be found in Appendix 2 and Appendix 3, respectively, of the Group's 2016 Interim Results, available at:
www.globalports.com/globalports/upload_docs/press/Global_Ports_1H16_Results_Release.pdf
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 Global Ports. 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. Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Global Ports 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 Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations.
[1] In which Eurogate currently has a 20% effective ownership interest.
[2] In which Container Finance currently has a 25% effective ownership interest.
[3] In which Container Finance currently has a 25% effective ownership interest.
[4] In which Container Finance currently has a 25% effective ownership interest.
[5] In which Royal Vopak currently has a 50% effective ownership interest.