PJSC LSR Group: Results of Annual General Meeting and Decisions of the Board of Directors Meeting

PJSC LSR Group (LSRG) 
PJSC LSR Group: Results of Annual General Meeting and Decisions of the Board 
of Directors Meeting 
 
28-Jun-2019 / 16:35 CET/CEST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
 Results of Annual General Meeting and Decisions of the Board of Directors 
          Meeting 
 
        St. Petersburg, Russia - 28 June 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 the results 
           of its Annual General Meeting of Shareholders ("AGM") held today. 
 
                    The AGM resolved to: 
 
  1) Approve the Company's 2018 Annual Report prepared in accordance with 
  FFMS requirements and the Company's financial statements for 2018 (RAS); 
 
  2) Approve a dividend payment of RUB 8,036 million or RUB 78 per ordinary 
  share for 2018. Shareholders registered at the record date of 10 July 2019 
  will be entitled to receive a dividend payment. The following dates were 
  set for the dividend payments: 
 
  - for nominal holders and securities market participants - 24 July 2019; 
 
  - for other registered shareholders - 14 August 2019; 
 
  3) Elect 7 members to the Company's Board of Directors, including 4 
  independent directors: 
 
  - Dmitri Gontcharov 
 
  - Igor Levit 
 
  - Aleksey Makhnev, Independent Director 
 
  - Andrey Molchanov 
 
  - Andrey Nesterenko, Independent Director 
 
  - Vitaliy Podolsky, Independent Director 
 
  - Alexander Prysyazhnyuk, Independent Director 
 
  4) Elect the following members of the Company's Internal Audit Commission: 
 
  - Natalya Klevtsova 
 
  - Denis Sinyugin 
 
  - Ludmila Fradina 
 
  5) Appoint CJSC KPMG to audit the Company's financial statements according 
  to IFRS and CJSC Audit-Servis to audit RAS financial statements for 2019. 
 
          At the meeting of the Board of Directors following the AGM, Andrey 
  Molchanov, the Company's founder, was appointed as CEO and Chairman of the 
  Executive Committee. Maxim Sokolov, who held these positions earlier, will 
                    serve as first Deputy CEO. 
 
  Dmitri Gontcharov, the newly elected Chairman of the Board of Directors of 
 PJSC LSR Group, commented: "We are pleased that Andrey Molchanov has agreed 
  to take on the role of the Company's CEO once more. LSR Group will benefit 
from the consolidation of our top management team during a complex period of 
transformation in the construction market. I would also like to welcome Igor 
  Levit to our Board of Directors. Mr. Levit brings a substantial experience 
not only in the construction industry, but also in managing LSR Group, where 
he worked in various senior positions over the years. We remain committed to 
         adopting best corporate governance practices at the Board level, as 
    reflected by the independence of more than half the Board of Directors." 
 
               The following members were elected to the Board's committees: 
 
                    Audit Committee: 
 
  - Alexander Prysyazhnyuk, Chairman 
 
  - Vitaliy Podolsky 
 
  - Aleksey Makhnev 
 
                    Human Resources and Compensations Committee: 
 
  - Vitaliy Podolsky, Chairman 
 
  - Aleksey Makhnev 
 
  - Alexander Prysyazhnyuk 
 
                    Strategy and Investments Committee: 
 
  - Andrey Nesterenko, Chairman 
 
  - Dmitri Gontcharov 
 
  - Igor Levit 
 
                    For more information please contact: 
 
            Investor Relations Media Relations 
 
                               LSR Group Press Service 
                               E-mail: [e-mail] 
 
                     Igor Tsoy 
 
Director of Investor Relations 
 
        E-mail: [e-mail] 
 
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). 
 
                    www.lsrgroup.ru [1] 
 
ISIN:           US50218G2066 
Category Code:  RAG 
TIDM:           LSRG 
LEI Code:       25340067LEEMJ79K8X43 
OAM Categories: 3.1. Additional regulated information required to be 
                disclosed under the laws of a Member State 
Sequence No.:   11784 
EQS News ID:    833131 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=f69150ed01d3088b34284c75345c9309&application_id=833131&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

June 28, 2019 10:35 ET (14:35 GMT)