30 Jul 2014 09:01
30 July 2014
Global Ports Investments PLC
EGM RESULTS
Global Ports Investments PLC ("the Company" and, together with its subsidiaries and joint ventures, "Global Ports" or "the Group"), the leading container terminal operator serving Russian cargo flows (LSE ticker: GLPR) today announces that the Company held its Extraordinary General Meeting of shareholders ("EGM") chaired by Mr. Konstantin Shirokov, Non-Executive Director.
The EGM was held on 30 July 2014 at 10:00am (Cyprus time) at Kanika International Business Center, Office 201, Profiti Ilia Str, 4, Germasogeia, CY-4046, Limassol, Cyprus, and had a quorum with 422,713,415 ordinary shares of the Company, which constitutes 100% of the issued share capital of the Company entitled to participate in this meeting and vote on the matters of the agenda.
The EGM adopted the following resolutions:
1. The resignation of Mr. Michalis Thomaides as the director of the Company with immediate effect and termination of his authorities as director of the Company with immediate effect.
2. The resignation of Mr. George Sofocleous as the director of the Company with immediate effect and termination of his authorities as director of the Company with immediate effect.
3. The appointment of Mr. Vadim Kryukov as a director of the Company until the next annual general meeting of shareholders of the company with no remuneration.
4. The appointment of Mr. Michalakis Christofides as a director of the Company until the next annual general meeting of shareholders of the company with no remuneration.
Mr. Kryukov and Mr. Christofides were nominated to the Board by Ilibrinio Establishment Limited and Polozio Enterprises Limited, former owners of the NCC Group. Global Ports completed the acquisition of the NCC Group in the end of 2013.
Following the resignation of Messrs. Thomaides and Sofocleous and the appointment of Messrs. Kryukov and Christofides the composition of the Audit and Risk, Remuneration and Nomination committees of the Board of Directors remain unchanged.
Annex to the Announcement: Brief biographies of the new members of the Board of Directors
Vadim Kryukov
Mr. Kryukov graduated from the Admiral Makarov State Maritime Academy and has extensive experience in transportation and logistics and in the areas of financial planning and budgeting. He was a member of the Board of Directors of NCC Group Limited and held that position from 2006 to 2013. Mr. Kryukov was responsible for development and support of several significant logistic projects in St.Petersburg.
Michalakis Christofides
Mr. Christofides holds an Advanced Diploma in Business Administration (Cyprus Institute of Marketing). He also attended the Senior Manager Course at Manchester Business School of the University of Manchester. He has extensive Banking experience starting in 1969. As the Senior Manager in International Business Services, he was responsible for the development and growth of activities of International Business Units of Bank of Cyprus in Cyprus and its Representative Offices in Russia, Ukraine, USA, Canada, South Africa and Romania. Between January 2012 and January 2013, he was a member of the Supervisory Board of Kreditprombank-Kiev.
ENQUIRIES
Global Ports Investor Relations
Mikhail Grigoriev
+357 25 313 475
Email: ir@globalports.com
Global Ports Media Relations
Anna Vostrukhova
+357 25 313 475
E-mail: media@globalports.com
StockWell Communications
Laura Gilbert/ Zoë 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 five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal1 and Moby Dik2 in the St. Petersburg and Ust-Luga port cluster, and Vostochnaya Stevedoring Company in the Vostochny Port) and two container terminals in Finland3 (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports also owns Yanino Logistics Park4 and inland Logistika-Terminal, both located in the vicinity of St. Petersburg, and has a 50% stake in the major oil product terminal, AS Vopak E.O.S., in Estonia.
In 2013, gross container throughput of Global Ports and NCC Group on an Illustrative Combined basis was 2,774 thousand TEU, a 2.9% increase compared to 2012 gross container throughput5. Global Ports 2013 revenue on an Illustrative Combined basis was USD 736.8 million, with an Adjusted EBITDA6 on an Illustrative Combined basis in 2013 of USD 420.0 million.
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 B.V. is a global terminal network of 65 operating port facilities and 160 inland services operations, giving APM Terminals B.V. a global presence in 68 countries. 20.5% of Global Ports shares are held in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR). Ilibrinio Establishment Limited and Polozio Enterprises Limited (former owners of NCC Group) each own 9% of the share capital of Global Ports.
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 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 specifically 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 each of which Container Finance currently has a 25% effective ownership interest.
4 In which Container Finance currently has a 25% effective ownership interest.
5 Russian Ports and Finnish Ports segments on an Illustrative Combined basis
6 Adjusted EBITDA is defined as profit for the period before income tax expense, finance costs, finance income, depreciation of property, plant and equipment, amortisation of intangible assets, other gains/(losses)-net, impairment charge of property, plant and equipment and impairment charge of goodwill.