Today, on April, 5 2012, Annual General Meeting of Shareholders (hereinafter – the “AGM”) of OJSC LSR Group (LSE: LSRG; MICEX: LSRG) (hereinafter – “LSR Group” or the “Company”).
The AGM approved the Annual report of OJSC LSR Group for 2011, prepared in accordance with FFMS requirements and financial statements for 2011 based on Russian Financial Reporting Standards (RFRS). The Shareholders Meeting also elected the Board of Directors, consisting of 9 members (including 3 independent directors):
1. Dmitri Gontcharov
2. Elena Tumanova
3. Igor Levit
4. Ilgiz Valitov
5. Kirill Androsov
6. Mark Temkin
7. Mikhail Romanov
8. Olga Sheikina
9. Sergey Skaterschikov
The AGM decided to pay out dividends based on the results of 2011 financial year amounting to RUB 20 per ordinary share. Thus, the total amount of dividends is RUB 2,060,604,300 to be paid up to and including June, 3, 2012 by postal transfer or settlement account transfer.
The AGM approved CJSC KPMG as auditor of the Company’s IFRS-based consolidated financial statements for 2012, and CJSC Audit-Servis as auditor of financial statements based on the Russian Accounting Standards.
The Shareholders also approved the revised Charter of OJSC LSR Group, revised Regulations on the Board of Directors and revised Regulations on the Executive Committee as well as a number of transactions.
The newly-elected Board of Directors of LSR Group re-electedIgor Levit as Chairman of the Board, and also elected the members of the Board committees as follows:
- Mark Temkin - Chairman.
- Kirill Androsov
- Igor Levit
Human Resources and Compensations Committee:
- Kirill Androsov - Chairman.
- Igor Levit
- Mark Temkin
Strategy and Investments Committee:
- Igor Levit - Chairman.
- Kirill Androsov
- Mikhail Romanov
- Elena Tumanova
In addition, the Board of Directors elected the following members of the Executive Committee:
1. Alexander Vakhmistrov, Chief Executive Officer - Chairman of the Executive Committee.
2. Elena Tumanova, Managing Director.
3. Dmitry Kutuzov, Chief Financial Officer.
4. Vladimir Loginov, Chief Legal Officer.
5. Ivan Romanov, Managing Director.
6. Kliment Falaleev, Managing Director.
7. Vladimir Chernyaev, Managing Director of Construction. North-West Business Unit.
8. Dmitry Khodkevich, Managing Director of Real Estate. North-West Business Unit.
9. Vasily Kostritsa, Managing Director of Aggregates & Ready-mix Concrete. North-West Business Unit.
10. Lev Vinnik, Head of Project Management Business Unit.
Biographies of the Board of Directors members are available at:
Biographies of the Executive Committee members are available at:
Statement of a material fact “On holding general meeting of participants (shareholders) of the issuer and its decisions” is available at:
Note to Editors:
OJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Nowadays LSR Group is one of the largest real estate development and building materials producing companies in Russia. Its core business areas are production of building materials, real estate development and panel construction.
LSR Group's main operations are located in St. Petersburg and the Leningrad region, Moscow and the Moscow region, Yekaterinburg and the Urals. As of 31 December 2011 (according to Cushman & Wakefield), the net sellable area of the projects in LSR Group’s real estate portfolio is equal to 8.4m m2 with the market value of RUB 124.4bn.
In 2011, the sales revenues of LSR Group were RUB 51,910m (IFRS).
LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on CJSC MICEX.
For more details please contact:
LSR Group Press Service
Tel.: +7 812 314 10 44
Fax: +7 812 458 83 72