4 Jul 2011 16:19
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These materials are not an offer for sale of any 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 any offering in the United States or to conduct a public offering of any securities in the United States.
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 announces the results of its board of directors meeting
LONDON, July 4, 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 July 4, 2011.
Further to the Company's decision on July 28, 2010 to increase itscharter capital by 123,315,000 shares, each with a nominal value of 62.50 (sixty two point fifty) rubles and its decision of August 12, 2010, to approve a decision on the potential additional issuance of such shares, the Board of Directors has approved as a major transaction (under Russian law) the potential entry into an underwriting agreement with certain underwriters and other related transactions and agreements.
The Company has not launched any such offering, and is not committed at this point to pursuing any such offering. It has approved the potential entry into an underwriting agreement so as to keep open its potential capital raising options. If the Company decides to launch such an offering, it will be the subject of a separate announcement by the Company.
For further information, please contact:
Investors PIK Group Viktor Szalkay
| Tel: +7 495 505 97 33 ext. 1358 |
International media Citigate Dewe Rogerson Tom Baldock Priscilla Garcia
| Tel: +44 20 7638 9571 |
Russian media Dmitry Ivliev | Tel: +7 495 505 97 33 ext. 1028 |