29 Apr 2014 11:00
For immediate release 29 April 2014
Global Ports Investments PLC
Results of Annual General Meeting of members
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 Annual General Meeting of members (AGM) under the chairmanship of Mr. Konstantin Shirokov, Non-Executive Director.
The AGM was held at Kanika International Business Center, Office 201, Profiti Ilia Str, 4, Germasogeia, CY-4046, Limassol, Cyprus on 29 April 2014 at 10.00am (Cyprus time) 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 AGM adopted the following resolutions:
1. To receive and consider and adopt the statutory audited parent company and consolidated financial statements of the Company for the financial year ended 31 December 2013, together with the reports of the 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 will be laid before the Company and to authorise the Board of Directors to determine the remuneration of the auditors.
3. To re-elect Mr. Constantinos Economides as a director of the Company for a period of three years; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2017, without any remuneration.
4. To approve the distribution by the Company of dividends, out of the profits made during the year 2013, in the amount of USD 0.02 per share.
In addition, the dividend record date is tentatively set for 08 May 2014. In this case the GDRs are expected to become ex-dividend on 06 May 2014. The payment of the dividends is expected by 01 June 2014.
The Minutes of the AGM are available for viewing at the registered office of the Company at Omirou 20, Agios Nikolaos, CY-3095 Limassol, Cyprus, and will shortly be available at the National Storage Mechanism of the UK Listing Authority, located at www.morningstar.co.uk/uk/NSM.
ENQUIRIES
Global Ports Investor Relations
Mikhail Grigoriev
+357 25 503 163
Email: ir@globalports.com
Global Ports Media Relations
Anna Vostrukhova
+357 25 503 163
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. Global Ports completed the acquisition of the NCC Group in the end of 2013.
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, including its ability to realise the benefits of NCC acquisition.
[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.