7 Jun 2013 07:00
PIK Group announces the completion of its USD 330million capital increase
(LONDON, June 7, 2013)PIK Group (MICEX: PIKK RX, LSE: PIK LI), one of Russia's leading residential real estate developers (the "Company" or "PIK"), today announces the completion and final results of its charter capital increase.
The final number of ordinary shares issued by the Company in connection with its capital increase was 167,236,960 ordinary shares. The total number after capital increase will change to 660,497,344 ordinary shares. PIK's Chief Executive Officer and several other of the Company's managers participated in the charter capital increase, together purchasing a total of 445,000 new shares.
At the price of RUB62.50 price per share set by the Company's Board of Directors on 28 May 2013, the final size of the completed capital increase was RUB10.45 billion (equivalent to approximately USD330 million). This number represented a significant increase from the initially announced minimum size of USD150 million, which was set following the receipt of preliminary commitments to participate in the open subscription from Nafta Moskva and a number of other investors. The additional USD180 million which has been raised through the accelerated share offering and open subscription follows strong investor demand.
As previously indicated, PIK intends to use at least 50% of the net proceeds from the capital increase for deleveraging, and a portion of the net proceeds from the capital increase may also be used for investment in new projects and general corporate purposes.
Sberbank CIB и VTB Capital acted as Joint Global Coordinators and Joint Bookrunners.
-Ends-
About PIK-Group
PIK-Group is a leading Russian real estate developer, focusing on large-scale residential projects within the Moscow Metropolitan Area and selected Russian regions. Since its foundation in 1994, PIK-Group has become a market leader in mass market residential property sector completing over 200 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area of 6.5 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2008 the Russian Government included PIK on the list of the nation's strategically important companies. For more information please visit: http://www.pik-group.com
Enquiries:
Investors
PIK Group Tel: +7 495 505 97 33 ext. 1358 / 1315
Viktor Szalkay
Media
Natalia Ivanova Tel: +7 495 505 97 33 ext. 1010 /1014
Disclaimer:This communication is only being addressed to and is directed only at, persons who are in member states of the European Economic Area ("EEA") who are "qualified investors" within the meaning of Article 2(1)(e) of EU Directive 2003/71/EC as amended (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the "Prospectus Directive") ("Qualified Investors"). In addition, in the United Kingdom, this communication is only being distributed to and is directed only at, Qualified Investors who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (ii) 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 or investment activity to which this communication relates will only be available to and will only be engaged in with, (a) in the United Kingdom, by persons who are Relevant Persons and (b) in any other member state of the EEA, by persons who are Qualified Investors. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
This communication is an advertisement and not a prospectus for the purposes of applicable measures implementing EU Directive 2003/71/EC as amended (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the "Prospectus Directive") and as such does not constitute an offer to sell or the solicitation of an offer to purchase securities.
This communication is not for public release, publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia). This communication is not and does not constitute or form a part of any offer of, or solicitation to purchase or subscribe for, any securities in the United States. Any such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). Any such securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act. No public offering of securities will be made in the United States of America.
Neither this communication nor any copy of it may be taken or transmitted into the Australia, Canada or Japan. This communication does 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 therefore. The offer and the distribution of this communication and other information in connection with the offering 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.