Etalon Group Notification of AGM

04 May 2016

 

Etalon Group Limited (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that its annual general meeting of shareholders (“AGM”) will be held at 10:00 on 20 May 2016 at Redwood House, St Julian’s Avenue, St Peter Port, Guernsey, Channel Islands.

The following resolutions will be proposed at the AGM:

  1. To receive the Company’s Annual Report and Accounts for the financial year ended 31 December 2015, together with the Reports of the Directors and Auditor thereon.
  2. To approve a final dividend for the year ended 31 December 2015 of USD 0.05 per share, such dividend shall be payable on 7 June 2016, to shareholders on record as of 13 May 2016.
  3. To re-appoint ZAO KPMG as auditor of the Company, to hold office from the conclusion of this meeting until the conclusion of the next general meeting at which accounts are laid before the Company.
  4. To authorise the Directors to set the auditor’s remuneration.
  5. To re-elect Martin Robert Cocker as a Director of the Company.
  6. To re-elect Anton Evgenyvich Poryadin as a Director of the Company.
  7. To re-elect Andrew Russell Howat as a Director of the Company.

The Notice of AGM and Form of Proxy were posted to shareholders on 5 May 2016, and copies of these documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.  The Notice of Meeting is also available on the Etalon Group website at www.etalongroup.com

This and other recent announcements are available on the Etalon Group website: www.etalongroup.com/investors/news/ 

Etalon Group IR Team

T: +44 (0) 20 8123 1328<br/> E: info@etalongroup.com

EM

Sam VanDerlip<br/> T: +44 7554 993 032<br/> T: +7 499 918 3134<br/> E: vanderlip@em-comms.com 

 

About Etalon Group

Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St. Petersburg metropolitan areas, where it operates through Etalon Invest and LenSpetsSMU subsidiaries. With a 28-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry.

Since its inception, Etalon Group has commissioned 5 million sqm. Etalon Group's CAGR for deliveries in 2010-2015 was 19%.

Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2015 was RUB 7,397 million.

The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5,000 people, and its nationwide sales and marketing network covers 36 Russian cities.

As of 31 December 2015, Etalon Group's portfolio comprised 28 projects, with a total of 2.72 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 104,384 million.

For the year ended 31 December 2015, Etalon Group's new contract sales totalled 385 ths sqm, or RUB 35,080 million. Deliveries in 2015 totalled 502 ths sqm.

The Company recorded revenue of RUB 42.4 billion and EBITDA of RUB 7.7 billion for the year ended 31 December 2015.

Etalon Group Limited's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.

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5 May 2016