REG - Etalon Group PLC - Etalon Announces Intention to Cancel LSE Listing

EtalonAnnouncement

18/07/2023 16:45

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RNS Number : 4189G  Etalon Group PLC  18 July 2023

18 July 2023

 

Etalon Group Announces Intention to Cancel Listing on London Stock Exchange

ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest
and longest-established development and construction companies, announces its
intention to cancel the listing of its global depositary receipts (GDRs) on
the London Stock Exchange (LSE). The decision was taken on 17 July 2023 at a
meeting of the Company's Board of Directors.

Etalon Group has been listed on the Main Market of the London Stock Exchange
since 2011. In connection with the suspension of trading in the Company's
depositary receipts from 3 March 2022, Etalon Group requested that the UK
Financial Services Authority (FCA) cancel the listing of the Company's GDRs,
issued under Regulation S (ISIN US29760G1031) and Rule 144A (ISIN
US29760G2021), and that the London Stock Exchange cancel the admission of the
GDRs to trading on the Main Market of the London Stock Exchange.

In accordance with Listing Rule 5.2.8, 16 August 2023 will be the last day the
GDRs are listed on the London Stock Exchange. Therefore, the LSE Listing
Cancellation becomes effective as of 8:00 a.m. (London time) on 17 August
2023.

In July 2023, the Bank of Russia decided to register a prospectus for the
Company's GDRs in accordance with Regulation of the Bank of Russia No. 714-P
of 27 March 2020 and Directive of the Bank of Russia No. 5951-U of 29
September 2021 and to allow Etalon Group's GDRs to be publicly traded in
Russia. Therefore, the Company completed the process of changing the basis for
its listing on Moscow Exchange. Following the LSE listing cancellation, the
Company will maintain its GDR listing on the regulated market of Moscow
Exchange.

The GDR programme remains in force and is operational. GDR holders may
exercise their rights under this security in full.

This and other announcements are available on the Etalon Group website:
https://www.etalongroup.com/investor-relations/investor-news/
(https://www.etalongroup.com/ru/investoram/novosti/) .

 

Contact information

Etalon Group

IR Team

T: +44 (0) 20 8123 1328

E: ir@etalongroup.com

 

EM

E: etalon@em-comms.com (mailto:etalon@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. In 2021, the
Company began a regional expansion programme and has already launched new
projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With
a 35-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 delivered 8.6 mln sqm of real estate.

Thanks to its integrated business model, Etalon Group is able to create 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 5,800 people, and its nationwide
sales network covers 35 regions of Russia.

Etalon Group's assets comprise 38 projects at the design and construction
stages, unsold inventory at completed residential complexes and commercial
properties, with total unsold NSA of 6.4 mln sqm, as well as a construction
and maintenance division. According to Nikoliers, the value of Etalon Group
assets as of 31 December 2022 was RUB 288 billion.

In 2022, Etalon Group's new contract sales totalled 292 ths sqm, or RUB 58.7
billion, not including accumulated new contract sales at YIT Russia as of its
acquisition.

The Company's revenue in 2022 amounted to RUB 80.6 billion, with EBITDA of RUB
16.5 billion.

Etalon Group's GDRs have been listed on the Main Market of the London Stock
Exchange since 20 April 2011 (under the ticker ETLN) and included in the Level
1 quotation list of Moscow Exchange since 31 January 2020. In July 2023, the
Company completed the process of changing the basis for its listing on Moscow
Exchange.

 

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