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PJSC LSR Group (LSRG)
PJSC LSR Group: LSR Group becomes Russia's first real estate developer to
join UN Global Compact
07-Feb-2019 / 10:01 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
LSR Group becomes Russia's first real estate developer
to join UN Global Compact
The move reflects LSR's focus on aligning sustainable long term growth
with highest levels of ethics
St. Petersburg, Russia - 07 February 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 as
part of its efforts to exercise world class standards of environmental,
social and governance practices, the Company has joined the UN Global
Compact ("the Compact").
Through its membership of the Compact, LSR intends to take a lead on
implementing sustainable and socially responsible real estate business
practices in Russia.
The Compact is the world's largest voluntary corporate citizenship
initiative. It promotes corporate social responsibility around the globe by
promoting 10 basic principles covering human rights, labour, the
environment, and anti-corruption measures among many others. It currently
has more than 13,000 participants in 170 different countries.
Igor Tsoy, Director of Investor Relations and Sustainable Development,
commented: "Joining the UN Global Compact reinforces our code of ethics and
represents our formal commitment to align our strategies, operations and
reporting with universal principles of sustainability.
As proud participants of the Compact, we place sustainability at the
forefront of everything that we do and we support and share the Sustainable
Development Goals adopted by the UN General Assembly in 2015.
Our vision is to become the leading construction company in Russia and our
focus on sustainability supports the long-term growth of the Company, while
taking direct responsibility for issues that impact our society, the
environment and future generations".
LSR is committing to report on its sustainability activities on an annual
basis. Progress will be communicated to stakeholders on a broad range of
areas including human rights, the prevention of corruption, labour standards
and the environment.
LSR has contributed to the prosperity of the communities it operates in for
more than 25 years, by operating as a good corporate citizen, generating
employment and investing in infrastructure. Aside from participating in
addressing priority social development issues, the Group also looks forward
to reporting on its efforts to safeguard and revitalise areas that are
important to Russia's cultural heritage.
For more information please contact:
Investor Relations Media Relations
LSR Group Press Service
E-mail: press@lsrgroup.ru
Igor Tsoy
Director of Investor Relations and
Sustainable Development
E-mail: IR@lsrgroup.ru
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, real estate
development and prefab construction. LSR Group's main operations are located
in St. Petersburg, Moscow and Yekaterinburg. As of 31 December 2017
(according to Knight Frank), the net sellable area of the projects in LSR
Group's real estate portfolio is equal to 8.6m m2 with the market value of
RUB 185 billion. LSR Group reported sales revenue of RUB 51,696 million
(IFRS) for the first six months of 2018. LSR Group is a public company, with
its GDRs traded on the London Stock Exchange and its ordinary shares traded
on the Moscow Exchange. www.lsrgroup.ru
ISIN: US50218G2066
Category Code: MSCL
TIDM: LSRG
LEI Code: 25340067LEEMJ79K8X43
Sequence No.: 7405
EQS News ID: 773035
End of Announcement EQS News Service
(END) Dow Jones Newswires
February 07, 2019 04:01 ET (09:01 GMT)
