REG - Etalon Group PLC - Etalon Group Changes GDR Programme Depositary Bank

EtalonAnnouncement

07/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231107:nRSG6220Sa&default-theme=true

RNS Number : 6220S  Etalon Group PLC  07 November 2023

7 November 2023

 

Etalon Group Changes GDR Programme Depositary Bank

 

ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest
and longest-established development and construction companies, announces that
it has completed the procedure for changing the depositary bank that
administers its global depositary receipts (GDR) programme in accordance with
Regulation S (ISIN US29760G1031).

Pursuant to an agreement that entered into force on 6 November 2023, RCS
Issuer Services S.AR.L has been appointed as the new depositary bank for the
Company's GDR programme under Regulation S, replacing the Bank of New York
Mellon.

Commenting on the change, Etalon Group CEO Gennadiy Shcherbina said:

 

"In late 2022, we undertook a programme aimed at resolving our infrastructure
issue. We have done a great deal of work, having already successfully
completed several important stages on the road to overcoming
infrastructure-related challenges. In July, for example, Etalon Group received
primary listing status on Moscow Exchange. Now, as planned, we have changed
the depositary bank administering our Regulation S GDR programme. Every step
of the way, we are committed to adhering to high standards of corporate
governance and to informing our stakeholders about key decisions and
initiatives that bring us closer to resolving our infrastructure issue."

 

For information on the new depositary, please visit www.rcsgroup.lu
(http://www.rcsgroup.lu) .

 

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

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGUBDBRUGDGXR