ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, held its extraordinary general meeting of shareholders previously announced on 1 March 2021 (the “EGM”) on Monday, 22 March 2021, at 11 a.m. Cyprus time, at 36 Agias Elenis str., Galaxias Building, Block B, 6th floor, office 602, 1061, Nicosia, Cyprus.
The following ordinary resolution was proposed at the EGM and was passed by the requisite majority in a poll:
ORDINARY RESOLUTION:
The authorised share capital of the Company is increased from £34,747.899 to £39,172.2686 by the creation of 88,487,391 ordinary shares of nominal value of £0.00005 each.
The ordinary resolution to give authority to the board of directors of the Company (the “Board of Directors”) to allot and issue, out of the authorised/registered (as increased) but unissued share capital of the Company, up to 88,487,391 ordinary shares at par or at a premium as they deem appropriate, such authority to expire on the expiry of two (2) years from the date of approval of this resolution, 22 March 2023, save that the Company may before such expiry make offers, agreements or arrangements which would or might require shares to be allotted after such expiry and so that the Board of Directors may allot shares in pursuance of such offers, agreements or arrangements as if the authority conferred hereby had not expired (a “Share Issue”), was proposed at the EGM but was not passed.
The majority resolution to unconditionally waive and dis-apply any pre-emption rights under section 60B of the Cyprus Companies Law, Cap 113, as well as any other pre-emption rights or rights of first refusal howsoever arising in connection with a Share Issue, was proposed at the EGM but was not passed either.
Sergey Egorov, Chairman of the Etalon Group Board of Directors, commented the EGM decision:
“The Board of Directors welcomes shareholders’ approval of the increase in share capital and acknowledges shareholders’ rejection of the proposal to conduct a non-preemptive Share Issue. As a result, the Board of Directors is considering its options and may determine to proceed with a rights offering at any time, subject to market conditions, the land acquisition pipeline and the ongoing needs of the Company’s investment programme.”
This and other recent announcements are available on the Etalon Group website:
https://www.etalongroup.com/en/news/.
IR Team
About Etalon Group
Founded in 1987, today Etalon Group is one of the leading nationwide players in Russia’s development and housing construction sector. The Company develops real estate projects for the middle class in Moscow, the Moscow region and St Petersburg. The Company has been actively developing in eight regions across Russia since 2021, with large-scale projects under way in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With 38 years of successful operations and ongoing regional expansion, the Company remains one of the largest players in the Russian real estate market. Since its foundation, Etalon Group has delivered 9.2 mln sqm of real estate.
Thanks to its integrated business model, Etalon Group creates added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs more than 6,000 people.
Etalon Group’s total assets comprise 27 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 5.5 million sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2024 was RUB 305 billion.
In 2025, Etalon Group’s new contract sales totalled 671 ths sqm, or RUB 153.5 billion.
The Company’s revenue in 2024 amounted to RUB 131 billion, with EBITDA of RUB 27.6 billion.
Etalon Group shares are traded on the Moscow Exchange (ticker ETLN) and have been included in the Level 2 quotation list since September 2025.