Notice of Annual General Meeting of shareholders and Dividend Recommendation
St. Petersburg, Russia - 26 March 2020 - PJSC LSR Group ("LSR" or the "Company") (LSE: LSRG; MOEX: LSRG), one of the leading real estate developers and building materials producers in Russia, today announces that its Board of Directors has resolved to convene an Annual General Meeting of shareholders ("AGM") on 29 April 2020. The AGM will be held in the form of voting by correspondence.
Completed voting ballots are to be sent to Office 713, 36B Kazanskaya Street, St. Petersburg 190031, Russian Federation or filled in electronically on https://pos.vtbreg.ru/. Deadline for the receipt of voting ballots is set for 29 April 2020. Shareholders registered as at the record date of 7 April 2020 will be eligible to participate in the AGM.
Shareholders will be considered to have participated in the AGM held by correspondence only if their voting ballots or electronic voting ballots completed online at https://pos.vtbreg.ru/ have been received before the deadline for the receipt of voting ballots.
The agenda for the Annual General Meeting of shareholders comprises the following matters:
1. Approval of the Company's 2019 Annual Report
2. Approval of the Company's 2019 Annual Financial Statements
3. Distribution of the Company's profit for the 2019 fiscal year
4. Determination of the number of members of the Company's Board of Directors
5. Election of the members to the Company's Board of Directors
6. Election of the members to the Company's Internal Audit Commission
7. Approval of the Company's auditors for 2020.
The following candidates have been nominated for election to the Company's Board of Directors by Company shareholder Andrey Molchanov:
- Dmitri Gontcharov
- Igor Levit
- Aleksey Makhnev, Independent Director
- Natalia Nikiforova, Independent Director
- Evgeny Yatsyshin
The following candidates have been nominated for election to the Company's Board of Directors by a group of Company shareholders, The Prosperity Quest Fund, The Russian Prosperity Fund and Prosperity Russia Domestic Fund Limited:
- Vitaliy Podolskiy, Independent Director
- Alexander Prysyazhnyuk, Independent Director
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, nominates the following candidates for election to the Company's Board of Directors:
- Andrey Molchanov
- Egor Molchanov
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, nominates the following candidates for election to 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 30.00 (thirty rubles) per ordinary share based on the results of 2019 financial year. Shareholders registered at the record date of 12 May 2020 will be entitled to receive a dividend payment.
Supporting materials related to the Annual General Meeting of shareholders will be published on the Company's website www.lsrgroup.ru on 27 March 2020.
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About LSR Group:
PJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials and real estate development and construction. LSR Group's main operations are located in St. Petersburg and Leningrad Region, Moscow and Moscow region and Yekaterinburg. As of 31 December 2019 (according to Knight Frank), the net sellable area of projects in LSR Group's real estate portfolio amounts to 7.6 million m2 with the market value of RUB 207 billion.
In accordance with its audited IFRS consolidated financial statements for 2019, LSR Group reported revenue of RUB110.4 billion, Adjusted EBITDA of RUB21.0 billion and Net Profit of RUB7.5 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).