29th Jun 2009 13:04
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN THE UNITED STATES OF AMERICA
PIK GROUP ("PIK" or "Company")
RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
(LONDON, 29 June 2009) - PIK Group (LSE: PIK), one of Russia's leading residential real estate developers, held its Annual General Meeting of Shareholders on 29 June 2009.
Resolutions approved at the annual general meeting of shareholders are summarised below:
1. Approval of the Russian statutory 2008 annual report and the RGAAP non-consolidated financial statements of PIK Group for the year ended 31 December, 2008 in accordance with Russian statutory requirements;
2. Approval of non-dividend payments for 2008 financial year as per RGAAP financial statements. Net profit is to be reinvested into the Company;
3. Approval of the election of the following members of the Board of Directors, of which 5 directors were re-elected and 4 were newly appointed:
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1. Yury V. Zhukov |
(re-elected) |
- |
Chairman of the Board of Directors of PIK Group |
|
2. Kirill V. Pisarev |
(re-elected) |
- |
CEO, President of PIK Group |
|
3. Lee S. Timmins |
(re-elected) |
- |
Hines International Corporation, Head of Moscow Representative Office |
|
4. Alec Maryanchik |
(re-elected) |
- |
Clever Asset Management, General Director |
|
5. Denis Nozdrachev |
(re-elected) |
Bank for Development and Foreign Economic Affairs (Vnesheconombank), Director of the Infrastructure Department |
|
|
6. Alexander Gubarev |
(newly appointed) |
- |
Head of Moscow Representative Office of Galahad Advisers Limited. |
|
7. Alexander Mosionzhik |
(newly appointed) |
- |
Nafta Moskva (Cyprus), Chairman of the Board of Directors |
|
8. Andrey Rodionov |
(newly appointed) |
- |
Moscow Representative Office of Nafta Moskva, Managing Director |
|
9. Pavel Grachev |
(newly appointed) |
- |
Moscow Representative Office of Nafta Moskva, Managing Director |
4. Approval of the members of the Audit Commission:
|
Loudmila Monetova |
- |
Head of the Audit Division of PIK Group |
|
Elena Ivanova |
- |
Head of IFRS Division of the Group |
|
Olga Kobizskaya |
- |
Deputy Director of Treasury |
5. Approval of BDO Unicon as the audit firm of the RGAAP financial statements of the Company for 2009;
6. Approval of related party inter-company transaction between the holding company, PIK Group, and its subsidiary, PIK Region, as set out by Russian statutory requirements.
Enquiries:
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Investors |
|
|
PIK Group |
Tel: +7 495 505 97 33 ext. 1358 |
|
Viktor Szalkay |
|
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Media |
|
|
PIK Group |
Tel: +7 495 505 97 33 |
|
Natalia Konovalova |
|
|
|
|
|
Citigate Dewe Rogerson |
Tel: +44 20 7638 9571 |
|
Tom Baldock |
|
|
Lindsay Noton |
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PIK. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. PIK does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in PIK's projections or forward-looking statements, including, among others, general economic conditions, PIK's competitive environment, risks associated with operating in Russia, rapid technological and market change, and other factors specifically related to PIK and its operations.
-END-
NOTES TO EDITORS
PIK Group Overview
Founded in 1994, PIK is one of the leading vertically integrated residential developers operating on a nationwide scale. Its business activities are concentrated in Moscow and the Moscow region with an increasing footprint in many of Russia's other regions. Its principal activity is the development, construction and sale of residential properties in large scale developments targeted primarily at the middle income housing market in Russia.
Since inception, PIK has completed over 7.3 million square meters of housing (equivalent to over 122,000 units) in Russia.
June 1, 2007, the Group completed successful listings on the London Stock Exchange, the RTS and MICEX exchanges in Russia.
Related Shares:
PIK.L