Last checked at 15 Jul 2013 09:07
PRESS RELEASE
NCSP Board of Director Decisions
15.07.2013
Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) announces that PJSC NCSP's Board of Directors elected Maxim Grishanin, First Vice President of Transneft, as its Chairman at a meeting on 12 July 2013. A short bio of Maxim Grishanin is provided at the end of this release.
The Board also approved several related party transactions at its 12 July 2013 meeting:
·; Service agreement for the analysis of oil products between PJSC NCSP and PJSC Novorossiysk Ship Repair Yard;
·; Rental agreement for non-residential property between PJSC NCSP and PJSC Novorossiysk Ship Repair Yard;
·; Service agreement for the training of employees on industrial safety between PJSC NCSP and PJSC Novorossiysk Ship Repair Yard;
·; Supply agreement for steel bailing band between PJSC NCSP and PJSC Novorossiysk Ship Repair Yard;
·; Rental agreement for non-residential property between PJSC NCSP and PJSC NLE;
·; Agreement to terminate a contract for rental of unmanned ships (bareboat charter) between PJSC NCSP and PJSC NCSP Fleet;
·; Agreement for rental of unmanned ships (bareboat charter) between PJSC NCSP and CJSC Importpisheprom-Transservice;
·; Additional agreements for extension of existing loan agreements between PJSC NCSP and LLC Baltic Stevedore Company;
·; Loan agreement between PJSC NLE and PJSC NCSP;
·; Revolving credit line agreement for RUB 2,000 ,000,000 between PJSC NCSP and PJSC Novorossiysk Grain Terminal;
·; Revolving credit line agreement for RUB 2,000,000,000 between PJSC NCSP and PJSC IPP;
·; Revolving credit line agreement for RUB 2,044,000,000 between PJSC NCSP and PJSC NCSP Fleet;
·; Revolving credit line agreement for RUB 2,044,000,000 between PJSC NCSP and LLC PTP;
·; Revolving credit line agreement for RUB 2,000,000,000 between PJSC NCSP and CJSC SoyuzFlot Port;
·; Revolving credit line agreement for RUB 802,000,000 between PJSC NCSP and LLC Baltic Stevedoring Company;
·; Revolving credit line agreement for RUB 927,000,000 between PJSC NCSP and PJSC Novorossiysk Grain Terminal;
·; Revolving credit line agreement for RUB 542,000,000 between PJSC NCSP and CJSC SoyuzFlot Port;
·; Revolving credit line agreement for RUB 914,000,000 between PJSC NCSP and PJSC IPP;
·; Revolving credit line agreement for RUB 2,000,000,000 between PJSC NCSP and LLC PTP;
·; Revolving credit line agreement for RUB 2,044,000,000 between PJSC NCSP and PJSC NCSP Fleet.
About Maxim Grishanin
Mr. Grishanin was appointed fist vice president of Transneft in 2012, and had been vice president at the company since 2011. Prior to Transneft, he was the director of corporate finance at Sukhoi Aviation Holding Company in 2010, and senior vice president for economics and finance at Sukhoi Civil Aircraft Company from 2006 to 2010. From 2002 to 2006, he headed the project finance department at Financial Leasing Company, and earlier he held various positions in the field of finance and economics. Born in 1959, Mr. Grishanin graduated from the University of Kiel in Germany in 1995 with a degree in economics.
About NCSP Group
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). 50.1% shares of PJSC "NCSP" belong to Novoport Holding Ltd, the beneficial owners of which are PJSC "Transneft" and Summa Group. NCSP Group cargo turnover in 2012 totalled 159 million tonnes. Consolidated revenue according to IFRS in 2012 totalled USD 1,034 million and EBITDA was USD 591.5 million. NCSP Group consolidates the following companies: PJSC "Novorossiysk Commercial Sea Port", LLC "Primorsk Trade Port", PJSC "Novorossiysk Grain Terminal", PJSC "Novorossiysk Ship Repair Yard", PJSC "NCSP Fleet", PJSC "NLE", PJSC "IPP", LLC "Baltic Stevedore Company", and CJSC "SFP".
Contacts:
Kristina Senko, Public Relations; KSenko@ncsp.com
Mikhail Shchur, Investor Relations; MShchur@ncsp.com