REG - PJSC Novorossiysk - Notice of material transaction <Origin Href="QuoteRef">NMTP.MM</Origin>

Novorossiyskiy morskoy torgovyi port PAOAnnouncement

22/06/2016 09:20

RNS Number : 9439B
PJSC Novorossiysk Comm. Sea Port
22 June 2016
Notice of Material Transaction
22 June 2016
NCSP Group (LSE: NSCP; MICEX: NMTP) hereby announces that PJSC NCSP has concluded a material transaction, which is also a related party transaction, by executing a loan agreement, dated 20 June 2016, between VTB Bank, and other creditors if approved by PJSC NCP and VTB Bank, as the organizer, agent, and initial creditors (Creditors), and PJSC NCSP as the borrower.
The transaction subject to approval by extraordinary general meeting to be held on 26 July 2016.
The amount of the loan shall be a maximum of $2100000000, including the loan in the amount of $1500000, and the uncommitted credit line (UCL) in the amount of $600000, which in total constitutes 137423580000 rubles at the Russian Central Bank exchange rate as of 10 June 2016, and equals to 116.67% of book value of PJSC NCSP assets as of 31 March 2016 (117782437000 rubles) as per unconsolidated Russian accounts.
The duration of the loan shall be up to 84 months from the date of the loan agreement.
About NCSP Group
NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2015. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group cargo turnover in 2015 totalled 139.7 million tonnes. Consolidated revenue to IFRS in 2015 totalled USD 877 million, and EBITDA was USD 657 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.
Contacts
Kristina Senko, Public Relations: KSenko@ncsp.com
Mikhail Shchur, Investor Relations: MShchur@ncsp.com

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