Notice of Annual General Meeting of shareholders and Dividend Recommendation
St. Petersburg, Russia - 15 May 2019 - PJSC LSR Group ("LSR" or the "Company") (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, announces that its Board of Directors has resolved to convene an Annual General Meeting of shareholders ("AGM") on 28 June 2019. The AGM will be held at 11.00 a.m Moscow Time in the conference hall "Rome" of Renaissance St. Petersburg Baltic hotel at 4A, Pochtamtskaya Str., St. Petersburg, Russia. Registration of the participants will start at 10 a.m. Moscow Time.
Shareholders registered as at the record date of 4 June 2019 will be eligible to participate in the AGM.
The agenda for the Annual General Meeting of shareholders comprises the following matters:
1. Approval of the Company's 2018 Annual Report
2. Approval of the Company's 2018 Annual Financial Statements
3. Distribution of the Company's profit for the 2018 fiscal year
4. Determination of the number of members of the Board of Directors
5. Election of the members of the Company's Board of Directors
6. Election of the members of the Company's Internal Audit Commission
7. Approval of the Company's auditors for 2019.
As the Board of Directors has received no proposals on the nomination of candidates to the Company's Board of Directors from the Company's shareholders, the Board of Directors invokes its right provided in Clause 7 of Article 53 of the Federal Law on Joint Stock Companies and, at its sole discretion, includes the following persons into the list of candidates to the Company's Board of Directors to be elected at the Annual General Meeting of Shareholders:
- Dmitri Gontcharov
- Igor Levit
- Aleksey Makhnev, Independent Director
- Andrey Molchanov
- Andrey Nesterenko, Independent Director
- Vitaliy Podolsky, Independent Director
- Alexander Prysyazhnyuk, Independent Director
As that the Board of Directors has received no proposals on the nomination of candidates to the Company's Internal Audit Commission from the Company's shareholders, the Board of Directors invokes its right provided in Clause 7 of Article 53 of the Federal Law on Joint Stock Companies and, at its sole discretion, includes the following persons in the list of candidates for the Company's Internal Audit Commission:
- Natalya Klevtsova
- Denis Sinyugin
- Ludmila Fradina
The Board of Directors of LSR Group decided to approve the appointment of Galina Volchetskaya as the Chairman of the Annual General Meeting of Shareholders of LSR Group and Irina Bogacheva as the Secretary of the Annual General Meeting of Shareholders of the Company.
The Board of Directors of LSR Group also recommended the Annual General Meeting of Shareholders to approve a dividend payment of RUB 78.00 (seventy eight rubles) per ordinary share based on the results of 2018 financial year. Shareholders registered at the record date of 10 July 2019 will be entitled to receive a dividend payment.
Supporting materials related to the agenda of the Annual General Meeting of shareholders will be published on the Company's site http://www.lsrgroup.ru/investors/ on 28 May 2019.
For more information please contact:
Director of Investor Relations
LSR Group Press Service
About LSR Group:
PJSC LSR Group is one of Russia's leading residential real estate developers and building materials producers. Founded in 1993, the business of LSR Group is concentrated in the three largest regions of Russia - Moscow, St. Petersburg and Yekaterinburg. The main business areas of the Company are real estate development and construction and production of building materials. LSR Group carries out projects in all segments of residential real estate market: mass market, business and elite.
In accordance with its audited IFRS consolidated financial statements for 2018, LSR Group had revenue of RUB146.4 billion, Adjusted EBITDA of RUB36.4 billion and Net Profit of RUB16.2 billion. As of 31 December 2018 (according to Knight Frank), the net sellable area of projects in LSR Group's real estate portfolio amounted to 7.8 million m2 with a market value of RUB186 billion.
Ordinary shares of the Company are traded on the Moscow Exchange (MOEX: LSRG) and GDRs representing its ordinary shares are traded on the London Stock Exchange (LSE: LSRG).