31 Oct 2011 15:26
Not for release, publication or distribution in Australia, Canada, Japan or the United States.
These materials are not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. OJSC PIK Group has not registered and does not intend to register any part of the offering in the United States or to conduct a public offering of any securities in the United States.
This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as 'relevant persons'). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
In any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the "Prospectus Directive") this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
Securities of OJSC PIK Group have not been and will not be registered under the applicable securities laws of Australia, Canada or Japan and, subject to certain exceptions, may not be offered or sold within Australia, Canada or Japan or to, or for the account or benefit of, citizens or residents of Australia, Canada or Japan except under circumstances which will result in the full compliance with the applicable laws and regulations promulgated by the relevant regulatory authorities in effect at the relevant time.
OJSC PIK Group
Update re: share placing
London, October 31, 2011: OJSC PIK Group (the "Company"; LSE: PIK), one of Russia's leading residential real estate developers, announces the results of its board of directors (the "Board of Directors") meeting held on October 31, 2011.
At the Board meeting, Directors approved the report carrying the results of the issuance of additional ordinary shares in the amount of 123,315,000 (one hundred twenty three million three hundred fifteen thousand), each with a nominal value of 62.50 (sixty two point fifty) rubles (the "Additional Shares"), stating that no Additional Shares had been placed.
Accordingly the Company has decided not to proceed with the placement of the Additional Shares due to volatile market conditions.
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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 180 000 apartments of affordable housing across the country. The Group has a substantial diversified land bank of net selling area over 10 million square meters and a dedicated professional team with over 11,000 employees. Given its brand recognition and the scale of its operations, in 2009 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 | |
PIK Group | Tel: +7 495 505 97 33 ext. 1010/1014 |
Natalia Ivanova |
Citigate Dewe Rogerson Tel: +44 20 7638 9571
Tom Baldock
Priscilla Garcia