Appointment of Non Executive

RNS Number : 0110O

Aurora Russia Limited

22 June 2010

 



22 June 2010

Aurora Russia Limited

Appointment of Non Executive Director

Aurora Russia Limited (the "Company" or "Aurora Russia"), the AIM-quoted investment vehicle established to make equity or equity-related investments in small and mid-sized private companies in Russia, announces that it has appointed Alexandr Dumnov to its Board as a Non Executive Director with immediate effect.

Mr Dumnov, aged 64, is a Russian national and has considerable experience working for and advising Russian companies.  He also has strong experience serving on the boards of both UK and Russian companies.  Most recently, Mr Dumnov was a member of the Board of Deloitte & Touche CIS from 1998 to 2007, after which he became a Non Executive Director of Trans-Siberian Gold plc, until 2009.  He also served as a Non Executive Director of Siberian Mining and Metallurgical Alliance from 2003 until May 2010 and is presently a Non Executive Director of MDM Bank.

Commenting on the appointment, Dan Koch, Chairman of Aurora Russia, said:

"We are delighted to welcome Alexandr Dumnov to the Board.  He has considerable experience of working for and advising Russian companies at the top level and his expertise and contacts will be invaluable to the Company."

Additional details are set out below:

Alexandr Dumnov (64)

Directorships in previous five years: Deloitte & Touche CIS, Trans-Siberian Gold plc and Siberian Mining and Metallurgical Alliance.

Present directorships: MDM Bank OAO.

Save for the information disclosed above there is no other information to be disclosed under schedule two, paragraph (g) of the AIM rules.

Enquiries

Aurora Russia Limited James Cook, Moscow        [phone] John McRoberts, London  [phone] Investec Investment Banking Martin Smith                     [phone]

Financial Dynamics         Ed Gascoigne-Pees          [phone] Sue I Ong                         [phone]

Notes to editors:

Aurora Russia

Aurora Russia floated on the Alternative Investment Market of the London Stock Exchange on 24 March 2006.  The Company has been established to make equity or equity related investments in small and mid-sized private Russian companies focused on the financial, business and consumer services sectors where the Directors of Aurora Russia believe there is potential for growth together with viable exit opportunities within two to four years of making such investments.   The Company intends to provide its investee companies with the necessary capital to continue to expand and develop. Aurora Russia shall provide hands-on operational support to deliver significant step changes in performance and value creation. 

Aurora Russia will target companies with enterprise values of up to approximately £100 million and will seek to secure blocking or controlling stakes and board representation.  The Company intends generally to take equity stakes of greater than 20% in each portfolio company. It is anticipated that each equity investment will typically be between £5 million and £25 million. 

 

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