24th Mar 2009 12:20
THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS RESTRICTED AND NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN THE UNITED STATES OF AMERICA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 "the Company")
STATEMENT RE: PRESS SPECULATION
(LONDON, 24 March 2009) - PIK (LSE: PIK), notes recent press speculation regarding the possible acquisition by a third party of an equity stake in the Company. As stated in our trading update dated 17 March the Company's primary focus is the restructuring of balance sheet debt to position the business for a more normalised economic environment. In the meantime, in line with established policy, there will be no comment from the Company on press speculation.
Enquiries:
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Investors |
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PIK Group |
Tel: +7 495 505 97 33 ext. 1358 |
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Viktor Szalkay |
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Media |
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PIK Group |
Tel: +7 495 505 97 33 |
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Natalia Konovalova |
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Citigate Dewe Rogerson |
Tel: +44 20 7638 9571 |
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Tom Baldock |
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Lindsay Noton |
NOTES TO EDITORS
PIK Group Overview
Founded in 1994, PIK is one of the leading vertically integrated residential developers with presence in over 20 cities across Russia. 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 January 1 2004, PIK has completed over 4 million square meters of residential housing, which is equivalent to approximately 58,000 residential units across Russia.
June 1, 2007, the Group completed successful listings on the London Stock Exchange, the RTS and MICEX exchanges in Russia.
PIK Group's website address is: www.pik.ru
Related Shares:
PIK.L