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30 Jun 2009 07:00
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NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITEDΒ STATES,Β AUSTRALIA,Β CANADAΒ ORΒ JAPAN
For immediate releaseΒ
|
29Β JuneΒ Β 2009 |
PRESS RELEASE |
St.Β Petersburg |
LSR GROUP HOLDS ITS ANNUAL MEETING OF SHAREHOLDERSΒ
On 29 June 2009, an ordinary Annual Meeting of Shareholders of OJSC LSR Group was heldΒ andΒ a meeting of the newly elected Board of Directors.
The AGMΒ agenda included approvalΒ ofΒ theΒ annualΒ reportΒ ofΒ OJSC LSR Group forΒ 2008, determination of the number of members and election to the Board of Directors, election of members to the Check-up Committee,Β approval ofΒ theΒ revised Charter andΒ reevisedΒ internal regulations of the management bodies of the Company, approval of the Company's auditors for 2009 and approval ofΒ related party transactions.Β
The Shareholders Meeting by a majority of votesΒ approved the annual report of OJSC LSR Group for 2008 and its financial statements for 2008Β based on Russian Accounting Standards, andΒ alsoΒ elected a newΒ Board of DirectorsΒ of seven members including two independent directors:
DmitriΒ Goncharov, Director, LSR Europe GmbH (aΒ subsidiaryΒ of LSR Group).
IgorΒ Levit, Chief Executive OfficerΒ ofΒ LSR Group.
Mikhail Romanov,Β Managing DirectorΒ ofΒ LSR Group.
Elena Tumanova,Β Chief Financial Officer ofΒ LSR Group.
Igor Kamenetsky,Β Strategic Planning Director ofΒ LSR Group.
Sergey Skaterschikov,Β Independent Director, Chairman of the Board of DirectorsΒ ofΒ Skate Capital, member of boards of directors of OJSC OMZ, Independence Holdings andΒ a number ofΒ otherΒ companies.
Ilgiz Valitov,Β Independent Director,Β Director of Regional Development Department, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank), member of boards of directors of a number ofΒ otherΒ companies.Β
TheΒ Meeting fully re-elected the Check-up Committee of OJSC LSR Group.
TheΒ MeetingΒ approvedΒ CJSCΒ KPMGΒ asΒ auditorΒ ofΒ theΒ Company'sΒ IFRS-based consolidated statements forΒ 2009,Β and CJSC Audit-Servis as auditor of financial statements based on the Russian Accounting Standards.Β
TheΒ MeetingΒ approvedΒ theΒ revisedΒ Charter and revised internal regulations of the Company's management bodies.Β
Pursuant to the earlier adopted dividend policy of the Company, its shareholdersΒ approved the decision not to declare any dividends on Company shares for 2008 financial year.
TheΒ ShareholdersΒ MeetingΒ approvedΒ aΒ numberΒ ofΒ transactionsΒ relatedΒ toΒ theΒ openingΒ ofΒ creditΒ facilitiesΒ withΒ State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)Β and Rosselkhozbank (Open Joint Stock Company Russian Agricultural Bank).Β Β
The newly elected Board of Directors of LSR Group re-elected Dmitri Goncharov as Chairman of the Board for a new term and also the members of Board committees as follows:
AuditΒ Committee:Β
-Β SergeyΒ SkaterschikovΒ -Β Chairman of the Committee;
- Elena Tumanova;
- Mikhail Romanov.
HumanΒ ResourcesΒ and CompensationsΒ Committee:
-Β SergeyΒ SkaterschikovΒ -Β Chairman of the Committee;
-Β Dmitri Goncharov;
- Elena Tumanova.
Β
Strategy and Investments Committee:
-Β Igor Kamenetsky - Chairman of the Committee;
- Igor Levit;
- Sergey Skaterschikov.
NoteΒ toΒ Editors:
Valitov, Ilgiz Nailevich,Β year of birth 1964
Educational Background:
Higher education,Β Kazan Institute of Finance and Economics.
WorkΒ Experience:
2002-2007 General Manager, OJSC VTB Bank, Tatarian Branch in Kazan
2003-2006 Member of the Board of Directors, OJSC Kamaz
2007-2007 Vice President and Managing Director, OJSC VTB Bank
2007-present Director,Β Regional Development Department, State Corporation Bank for Development and Foreign Economic AffairsΒ (Vnesheconombank)
2008-present Member of the Board of Directors, OJSC Kaluga Region Development Corporation
2009-Β present Member of the Board of Directors, OOO VEB-InvestΒ
2009-Β present MemberΒ ofΒ the SupervisoryΒ Board,Β Moscow Open Joint Stock CompanyΒ SlaveΒ (Moscow 2ndΒ Watch Factory)
2009-present Member of the Board of Directors, OJSC 31 Novinsky Boulevard
Kamenetsky, Igor Albertovich,Β year of birthΒ 1971
EducationalΒ Background:
HigherΒ education,Β 1993,Β St.Β Petersburg State University,Β 1994, London Summer School of Economics.Β 1996,Β PostgraduateΒ Course,Β DepartmentΒ ofΒ Economics,Β St.Β PetersburgΒ StateΒ University.Β 2004-2005,Β MarketingΒ ManagementΒ RetrainingΒ Course,Β ManagementΒ Department,Β St.Β PetersburgΒ StateΒ University.Β Candidate of Economics.
Work Experience:
2003-2006 EconomicΒ AdvisorΒ toΒ President, OOO PSG LSR
2006-2008 Research and Projections Director, OOO LSR
2008-present Strategic Planning Director, OOO LSR
OJSC LSR GroupΒ Β is a real estate and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are building materials, construction and real estate. The Group includes enterprises for extraction and processing of aggregates, production and transportation of building materials, and housing construction - from mass market large-panel housing to elite property built after designs made by leading domestic and foreign architects.Β LSR Group has operations and offices in a number of cities in theΒ LeningradΒ region, inΒ St. Petersburg,Β Moscow,Β Yekaterinburg,Β Lithuania,Β Latvia,Β Estonia,Β UkraineΒ andΒ Germany.Β In 2007, the sales revenues of LSR Group (according to the IFRS-based financial statements) wereΒ RUBΒ 35,858Β million,Β inΒ 2008Β -Β RUBΒ 49,813Β million.
LSR Group is a public company, with its GDRs listed and traded on the London Stock Exchange and its shares listed and traded on MICEX and RTS.Β
In 2007, LSR Group was awarded 'The Company of the Year' National Award in the 'Construction' category.
Β
For more details please contact:
LSR Group Press Service
Tel.: +7Β 812Β 314 10 44
E-mail:Β press@lsrgroup.ru
www.lsrgroup.ru
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" 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, rapid technological and market change in the industries the Company operates in, as well as many other risks specifically related to the Company and its operations. Neither these materials nor any copy of it may be taken or transmitted into theΒ United States,Β Australia,Β CanadaΒ orΒ Japan. These materials do not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor. The offer and the distribution of these materials and other information in connection with the listing and offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. These materials are not an offer for sale of any securities in theΒ United States. Securities may not be offered or sold in theΒ United StatesΒ absent registration or an exemption from registration under the U.S. Securities Act of 1933. The Company has not registered and does not intend to register any portion of any offering in theΒ United StatesΒ or to conduct a public offering of any securities in theΒ United States. This communication is directed only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.Β This communication is distributed in any member state of the European Economic Area which applies Directive 2000/71/EC (this Directive together with any implementing measures in any member state, the "Prospectus Directive") only to those persons who are investment professionals for the purposes of the Prospectus Directive in such member state, and such other persons as this document may be addressed on legal grounds, and no person that is not a relevant person may act or rely on this document or any of its contents.
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