26 Mar 2012 07:30
For immediate release 26 March 2012
Global Ports Investments PLC
Announcement of AGM
Global Ports Investments PLC ("Global Ports", and together with its subsidiaries and joint ventures, "the Group"), (LSE ticker: GLPR) today announces that at a meeting on March 23rd, 2012, the Board of Directors of Global Ports called an Annual General Meeting of shareholders to be held at City House, 6 Karaiskakis Street, Limassol, Cyprus on Monday, April 17th, 2012 at 11am (Cyprus time), to consider and, if thought fit, pass the following resolutions:
1. To receive and consider and, if thought fit, adopt 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.
2. To re-appoint PricewaterhouseCoopers Limited as auditors of the Company to hold office until the conclusion of the next general meeting at which the accounts are laid before the Company and to authorise the Board of Directors to determine the remuneration of the auditors.
3. To reappoint Mrs. Siobhan Walker as a director of the Company for a period of three years to hold the office until the conclusion of the year 2015 annual general meeting of shareholders of the Company with an annual gross remuneration of EUR 75,000.
4. To fix the annual gross remuneration of Capt. Bryan Smith for the fulfillment of the Company's director's duties at USD 290,000.
5. To fix the annual gross remuneration of Mr. Alexander Iodchin for the fulfillment of the Company's director's duties at EUR 246,000.
6. To fix the annual gross remuneration of Mr. Michael Thomaides for the fulfillment of the Company's director's duties at EUR 50,424.
7. To fix the annual gross remuneration of Mr. Alexander Pevzner for the fulfillment of the Company's director's duties at USD 290,000.
8. To fix the annual gross remuneration of Mrs. Elia Nicolaou for the fulfillment of the Company's director's duties at EUR 1,000.
9. To fix the annual gross remuneration of Mr. Marios Tofaros for the fulfillment of the Company's director's duties at EUR 1,000.
10. To approve the distribution by the Company of final dividends for the year 2011 in the amount of 0.07 USD per ordinary share.
NOTES
1. Every holder of the Company's ordinary shares entitled to attend and vote at the above mentioned annual general meeting is entitled to appoint a proxy to attend and vote on his/her behalf. Such proxy need not be a member of the Company. To be valid, the relevant instrument appointing a proxy must be in the form attached to this notice of the annual general meeting and if applicable the power of attorney or other authority if any under which it is signed or a notarially certified copy of that power or authority shall be delivered at the registered office of the Company, at Omirou 20, Agios Nikolaos, 3095 Limassol, Cyprus, not later than 48 hours before the time for holding the annual general meeting.
2. Holders of global depositary receipts ("GDRs") will receive a written request containing voting instructions by which he/she may give instructions to the Depositary to vote for or against each resolution. Such request will include details as to the steps GDR holders need to take in order to give such instructions.
3. This notice of annual general meeting and attached form of proxy are available for viewing at the registered office of the Company, at Omirou 20, Agios Nikolaos, 3095 Limassol, Cyprus, and will shortly be available at the National Storage Mechanism of the UK Listing Authority, located at http://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
Zoe Watt
+44 20 7240 2486
Email: globalports@rholloway.com
Depositary J.P. Morgan
Djamilia Kurmanbaeva
+44 207 325 6365
Email: djamilia.b.kurmanbaeva@jpmorgan.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.