REG - Etalon Group PLC - Result of Annual General Meeting

EtalonAnnouncement

23/10/2020 11:00

RNS Number : 9648C
  
Etalon Group PLC
  
23 October 2020
  
 

23 October 2020
 
Result of Annual General Meeting
 
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it held its Annual General Meeting of shareholders ("AGM") on Friday, 23 October 2020, at 11 a.m. Cyprus time, at 36 Agias Elenis str., Galaxias Building, Block B, 6th floor, office 602, 1061, Nicosia, Cyprus.
 
The following resolutions were proposed at the AGM and each of the following resolutions was passed by the requisite majority of votes:
 
ORDINARY RESOLUTIONS:
 
1.   To receive and approve the Company's Consolidated Financial Statements for the financial year ended 31 December 2019 together with the Reports of the Directors and Auditor thereon and the Company's stand-alone Financial Statements for the financial year ended 31 December 2019 together with the Reports of the Directors and Auditor thereon.
2.   To approve the declaration and distribution of a final dividend for the year ended 31 December 2019 in the amount of RUB 12 per share, out of the Company's divisible profits, in accordance with the recommendation of the Board of Directors of the Company, such dividend to be payable on the 16th of December 2020 to shareholders on record as at the 20th of November 2020. Payment will be made in US dollars at the Central Bank of the Russian Federation exchange rate fixed 3 business days before the date of payment.
3.   To appoint DELOITTE 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.
 
This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/
 
Etalon Group IR Team

T: +44 20 8123 1328

E: ir@etalongroup.com   
EM 

Sam VanDerlip

T: +44 207 002 7859

E: vanderlip@em-comms.com
About Etalon Group
 
Founded in 1987, Etalon Group is one of Russia's largest development and construction companies. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 7 million sqm of real estate.
 
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as maintain best-in-class profitability. Etalon Group employs over 5,000 people, and its nationwide sales and marketing network covers 57 Russian cities.
 
In 2019, Etalon Group acquired and consolidated 100% in Leader-Invest, one of Moscow's largest residential developers by size of land bank and number of projects currently available for sale.
 
Etalon Group's total assets comprise 33 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 3.3 million sqm, as well as a construction and maintenance division. Colliers International valued the Company's total assets at RUB 188 billion as of 31 December 2019.
 
For the year ended 31 December 2019, Etalon Group's new contract sales totalled 630 ths sqm, or RUB 77.6 billion. Deliveries in 2019 amounted to 622 ths sqm.
 
The Company recorded a record revenue of RUB 84.3 billion and EBITDA of RUB 8.9 billion for the year ended 31 December 2019.
 
Etalon Group's GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011 and on the Level 1 List of Moscow Exchange since 31 January 2020 under the ticker ETLN.
 

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