(LONDON, 26June 2008) - PIK Group (LSE: PIK), one of Russia’s leading residential real estate developers, held its Annual General Meeting of Shareholders on June 25 2008.
Resolutions approved at the annual general shareholders meetings are summarised below:
- Approval of the Russian statutory 2007 annual report and the RGAAP nonconsolidated financial statements of PIK Group for the year ended December 31, 2007 in accordance with Russian statutory requirements;
- Approval of non-dividend payments for 2007 financial year as per RGAAP financial statements. Net profit is to be reinvested into the Company;
- Approval of the number of members of the Board of Directors, which is set at 9 Directors;
- Approval of the election of the following members of the Board of Directors:
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1. Yury V. Zhukov |
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Chairman of the Board of Directors of PIK Group |
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2. Sergey V. Kanaev |
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First Vice-President of PIK Group |
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3. Kirill V. Pisarev |
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CEO, President of PIK Group |
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4. Artem S. Eyramdzhants |
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COO, First Vice-President of PIK Group |
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5. Lee S. Timmins |
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Hines International Corporation, Head of Moscow Representative Office |
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6. Anselm O. Schmucki |
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Moscow Representative Office of UBS, Director and Senior Representative |
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7. Sen Shanti |
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Citi Alternative Investments (New York), Managing Director |
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8. Paul R. Sobel |
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Alfa Capital Partners Ltd., Director of Moscow Representative Office |
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9. Alec Maryanchik |
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Clever Asset Management, General Director |
- Approval of the members of the Audit Commission:
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Valery P. Ropay |
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Head of Control and Audit Division of PIK Group |
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Dmitry V. Nazarov |
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Director of Investment Policy Department of PIK Group |
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Elena A. Krutitskaya |
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Director of Strategic Development Department of PIK Group |
- Approval of the audit firm of the RGAAP financial statements of the Company for 2008;
- Approval of related party transactions as per Russian statutory requirements
Enquiries:
PIK Group Tel: +7 495 505 97 33 ext. 1358
Viktor Szalkay
Investor Relations
Citigate Dewe Rogerson Tel: +44 20 7638 9571
Tom Baldock
Lindsay Noton
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