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Mostotrest Annual general shareholders meeting results

11/06/19  

On June 6, 2019, the Annual General Shareholders Meeting (AGSM) of Mostotrest PJSC (hereinafter - Mostotrest, the Company or the Group) was held in Moscow. The AGSM reviewed and approved the Annual Report and Annual Financial Statements of the Company, elected the Board of Directors and the Audit Committee of the Company, approved auditors under Russian Accounting Standards (RAS) and International Financial Reporting Standards (IFRS).

By a majority of votes, the AGSM decided not to pay dividends, and record the Company's profits for 2018 as retained earnings. The decision was made in view of the market uncertainty, significant leverage, costs associated with debt servicing, and a continuing decline in the Company's total profits for the second year running.

Eleven members were elected to the Board of Directors of the Company: Gennady Bogatyrev, Vladimir Vlasov, Leonid Dobrovsky, Valery Dorgan, Maria Karelina, Andrey Konnykh, Vladimir Kotylevsky, Vladimir Monastyrev, Vyacheslav Prikhodko, Valentin Silyanov and Oleg Tanana.

The Company's Audit Committee was elected as follows: Elena Barabanova, Valeriya Bikmaeva, Julia Kryuchkova and Evgeny Strelnikov.

KPMG JSC was approved as the Company's auditors for financial statements prepared in accordance with RAS and IFRS.

In addition, the AGSM approved amendments to the Company's Articles of Incorporation and General Shareholders Meeting Regulations, providing for the possibility of electronic voting.

FOR REFERENCE

Mostotrest PJSC is the largest diversified infrastructure construction company with a footprint across all key and related market segments, and a participant in pioneering public-private partnership projects in Russia. According to the EMBS Group, an independent industry consultancy, Mostotrest 2016 share of the Russian transport infrastructure construction market was 14.6%.

The Mostotrest Group core business segments include construction and reconstruction of bridges (including road, railway and city bridges), roads and other transport infrastructure, as well as road maintenance, repair and operation services. In 2012, Mostotrest also diversified into road concession management.

The company was founded in 1930 for the construction of off-gauge and extra-large bridges.

Currently, Mostotrest is involved in the implementation of a number of complex integrated transport infrastructure projects, such as construction of several segments of the M-11 Moscow - St. Petersburg Highway, construction and reconstruction of segments of the M-4 «Don» Highway, as well as construction of the Kerch Strait Bridge.

For more detailed information about Mostotrest please visit: www.mostotrest.ru