Information  X 
Enter a valid email address

Hals-Development (HALS)

  Print   

Monday 20 November, 2017

Hals-Development

THE BOARD OF DIRECTORS RESOLUTIONS

RNS Number : 0063X
Hals-Development PJSC
20 November 2017
 

THE BOARD OF DIRECTORS RESOLUTIONS

MOSCOW, RUSSIA - November 20, 2017 - HALS-Development (LSE, MICEX: HALS), a major Russian real estate Company, announces the Board of Directors resolutions passed at the meeting on 20 of November 2017 (Minutes №4 dated November 20, 2017).

 

7 members of 7 elected members of the Board of Directors have participated at the meeting. There was a quorum on the agenda.

 

Resolutions:

 

Considering

-     decrease in market liquidity treatment of global depositary receipts on the London Stock Exchange,

-     a small number of shares deposited in the program of global depositary receipts under Rule 144A (ISIN US40637J1051) and Regulation S (ISIN US40637J2042),

-     the Company's expenses for maintaining the listing of global depositary receipts on the London Stock Exchange and the administrative requirements related to the listing of global depositary receipts on the London Stock Exchange,

 

Resolved to cancel the listing and trading of the global depositary receipts on the London Stock Exchange and to terminate the program of global depositary receipts under Rule 144A (ISIN US40637J1051) and Regulation S (ISIN US40637J2042).

 

To oblige the President to carry out actions to implement this decision.

 

Voting results:

"FOR" - 7 votes; "AGAINST" - 0 votes; "ABSTAINED" - 0 votes.

 

 

Hals-Development ("the Company") is the fastest growing developing company, specializing in commercial and residential real estate; it controls all stages of development project: from making conception till the following management of the built object. The main shareholder of the Company is VTB Bank.

The Company was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The Company's shares are also listed on the Moscow Exchange.

The company is in the top five of the largest developers in Moscow. The total value of development projects of HALS-Development is 1.6-mil sq.m. In 2016 the Company put into operation 4 projects with total area 300 thousand sq.m.: the first phase of construction of the business class residential premises of  "Nasledie"; "Wine House"; "Peking Gardens"; "IQ-Quarter" residential block (MMDC "Moscow-City").

The total value of currently developing projects by HALS-Development is about 800 thousands sq.m. Hals-Development is currently developing such projects as development of the second phase construction of the business class residential premises of "Nasledie"; multifunctional complex "Iskra-Park", non-residential towers of "IQ-Quarter" (MMDC "Moscow-City"), the residential complex "Dostoyanie", the luxury residential premises "Taetralniy Dom".

The Company's portfolio includes such existing facilities as the business centers SkyLight, "Danilovsky Fort", hotel "Beijing", the shopping and entertainment complex "CDM at Lubyanka", resort complex "Camellia" in Sochi and other objects in Moscow and regions.

For further information please contact:

 Elizaveta Bekreneva

Corporate Secretary

Tel. +7 (495) 589-2222 (ext. 1338)

[email protected]


***

The information in the press release may contain forward-looking statements regarding future events or the future financial performance of Hals-Development. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could", "may" or "might" the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and those actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date thereof or to reflect the occurrence of unanticipated events.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
STRBMBITMBITBIR

a d v e r t i s e m e n t