REG - Etalon Group - Etalon Group Notification of AGM <Origin Href="QuoteRef">ETLNGq.L</Origin>

EtalonAnnouncement

04/07/2017 07:30

RNS Number : 9975J
Etalon Group Public Company Limited
04 July 2017
4 July 2017
Etalon Group Notification of AGM
ETALON GROUP PUBLIC COMPANY LIMITED ("Etalon Group" or the "Company"), one of Russia's largest and longest-established residential real estate developers, announces that its annual general meeting of shareholders ("AGM") will be held at 36 Agias Elenis str., Galaxias Building, Block A, 6th floor, office 601, 1061, Nicosia, Cyprus on Thursday, 27 July 2017, at 11 a.m. Cyprus time.
The following resolutions will be proposed at the AGM:
ORDINARY RESOLUTIONS:
1. To receive and approve the Company's Consolidated Financial Statements for the financial year ended 31 December 2016 together with the Reports of the Directors and Auditor thereon.
2. To approve a final dividend for the year ended 31 December 2016 of USD 10.7 per share, such dividend to be payable on the 23rd of August 2017 to shareholders on record as at the 4th of August 2017.
3. To appoint KPMG LIMITED as auditor of the Company to hold office from the conclusion of this meeting until the conclusion of the next annual 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 Viacheslav Adamovich Zarenkov as an Executive director of the Company.
6. To re-elect Kirill Bagachenko as an Executive director of the Company.
7. To re-elect Michael Calvey as a Non-executive director of the Company.
8. To re-elect Martin Robert Cocker as a Non-executive director of the Company.
9. To re-elect Alexey Kalinin as a Non-executive director of the Company.
10. To re-elect Dmitry Kashinskiy as an Executive director of the Company.
11. To re-elect Boris Svetlichny as a Non-executive director of the Company.
12. To re-elect Dmitry Viacheslavovich Zarenkov as a Non-executive director of the Company.
13. To re-elect Charalampos Avgousti as a Non-executive director of the Company.
14. To re-elect Marios Theodosiou as a Non-executive director of the Company.
SPECIAL RESOLUTIONS
15. That the entirety of the Articles of Association of the Company be substituted by the Articles of Association available at http://www.etalongroup.com/investors/general-meetings subject to the approval of the Registrar of Companies and Official Receiver of the Republic of Cyprus.
16. That the name of the Company be altered from ETALON GROUP PUBLIC COMPANY LIMITED to ETALON GROUP PLC subject to the prior approval of the Registrar of Companies and Official Receiver of the Republic of Cyprus.
17. That the entirety of the Memorandum of the Company be substituted by the Memorandum available at http://www.etalongroup.com/investors/general-meetings and for the officers of the Company to perform all the necessary actions for the purposes of implementing the respective substitution of the Memorandum.
The Notice of AGM and Form of Proxy were sent to shareholders on 4 July 2017, 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: http://www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
E: info@etalongroup.com
EM
Sam VanDerlip 
T: +44 7554 993 032
T: +7 499 918 3134
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 Etalon LenSpetsSMU subsidiaries. With a 30-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 5.5 million sqm.
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 2016 was RUB 7.8 billion.
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 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2016, Etalon Group's portfolio comprised 35 projects, with a total of 2.82 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 115,818 million.
For the year ended 31 December 2016, Etalon Group's new contract sales totalled 496 ths sqm, or RUB 47,443 million. Deliveries in 2016 amounted to 420 ths sqm.
The Company recorded revenue of RUB 49.0 billion and EBITDA of RUB 7.3 billion for the year ended 31 December 2016.
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.

This information is provided by RNS
The company news service from the London Stock Exchange
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