REG - Etalon Group PLC - Group Board of Directors Meeting Results

EtalonAnnouncement

03/05/2022 07:00

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RNS Number : 9631J  Etalon Group PLC  03 May 2022

 

3 May 2022

 

Group Board of Directors Meeting Results

 

ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest
and longest-established development and construction companies, announces the
results of its latest meeting of the Board of Directors, held on 29 April
2022.

 

Dividends

 

In line with the approved dividend policy, which establishes the deadline for
considering dividend payments as not later than 31 May of the year following
the reporting period, the Board of Directors at its meeting considered the
matter of dividend payments for 2021 in line with the time frames set out in
the dividend policy.

 

The Board of Directors took into account the fact that, at the present time,
due to the challenging geopolitical circumstances, certain sanctions
provisions and mutual restrictions, including with respect to distribution of
funds through international payment and clearing systems, could have a
significant impact on the Company's ability to pay out dividends in line with
its existing dividend policy in respect of all groups of shareholders of the
Company. Based on the principle of equal treatment of all shareholders, the
Board of Directors decided to postpone consideration of the matter of dividend
payments for 2021 until constraints currently in force are removed.

 

This and other recent 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 (mailto: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 the largest development and
construction companies in Russia. 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 as well as Ekaterinburg
and Tyumen. 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 commissioned 7.9 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 over 4,600 people, and its nationwide sales
and marketing network covers 59 Russian cities.

 

Etalon Group's assets comprise 27 projects at the design and construction
stages, unsold inventory at completed residential complexes and commercial
properties, with total unsold NSA of 6.0 mln sqm, as well as a construction
and maintenance division. Colliers International valued the Company's total
assets at RUB 270 billion as of 31 December 2021.

 

In 2021, Etalon Group's new contract sales totalled 446 ths sqm, or RUB 84.4
billion. The Company's revenue in 2021 amounted to RUB 87.1 billion, with
EBITDA of RUB 17.9 billion.

Etalon Group's GDRs have traded on the Main Market of the London Stock
Exchange since 20 April 2011 and in the Level 1 quotation list of Moscow
Exchange since 31 January 2020 under the ticker ETLN.

 

 

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