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Global Ports Inv (GLPR)

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Wednesday 28 April, 2021

Global Ports Inv

Notice of AGM

RNS Number : 7798W
Global Ports Investments PLC
28 April 2021
 

 

 

For immediate release   28 April   2021

Global Ports Investments PLC

AGM Notice

Global Ports Investments PLC ("Global Ports" or the "Company" and, together with its subsidiaries and joint ventures, the "Group") (LSE ticker: GLPR) today announces that the Annual General Meeting of the Members of Global Ports Investments Plc ("The Company") will be held at BG WAYWIN PLAZA, Office 302, 62 Agiou Athanasiou Avenue, 4102, Limassol, Cyprus on 27 May 2021 at 10 am (Cyprus time), to consider and, if thought fit, pass resolutions 1 to 16, being items of ordinary business as follows:

1.  To receive and consider and, if thought fit, adopt the statutory audited parent company and consolidated financial statements of the Company for the financial year ended 31 December 2020, together with the management reports and independent auditor`s reports.

2.  To appoint KPMG Limited as auditors of the Company, to hold office until the conclusion of the next annual general meeting at which the accounts will be laid before the Company and to authorise the Board of Directors to determine the remuneration of the auditors.

3.  To approve the resignation of Mr. Demos Katsis from the Board of Directors of the Company as of 27 May 2021.

4.  To approve the resignation of Mr. Sergey Shishkarev from the Board of Directors of the Company as of 27 May 2021.

5.  To approve the resignation of Mr. Andrey Yaschenko from the Board of Directors of the Company as of 27 May 2021.

6.  To elect Mr. Vladimir Bychkov as a director of the Company until the next annual general meeting of the Members of the Company to be held in 2022, with no remuneration.

7.  To re-elect Ms. Britta Dalunde as a director of the Company for a period of one year with no changes in the level of her remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

8.  To re-elect Mr. Kristian Bai Hollund as a director of the Company for a period of one year with no changes in the level of his remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

9.  To re-elect Ms. Alexandra Fomenko as a director of the Company for a period of one year with no changes in the level of her remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

10.  To re-elect Mr. Soren Sjostrand Jakobsen as a director of the Company for a period of one year with no changes in the level of his remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

11.  To re-elect Mr. Shavkat Kary-Niyazov as a director of the Company for a period of one year with no changes in the level of his remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

12.  To re-elect Ms. Inna Kuznetsova as a director of the Company for a period of one year with no changes in the level of her remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

13.  To elect Mr. Andrey Lenvalskiy as a director of the Company until the next annual general meeting of the Members of the Company to be held in 2022, with no remuneration.

14.  To re-elect Mr. Lampros Papadopoulos as a director of the Company for a period of one year with no changes in the level of his remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

15.  To elect Mr. Andriy Pavlyutin as a director of the Company until the next annual general meeting of the Members of the Company to be held in 2022, with no remuneration.

16.  To re-elect Mr. Mogens Petersen as a director of the Company for a period of one year with no changes in the level of his remuneration for the fulfillment of the Company's director's duties; to hold such office until the conclusion of the annual general meeting of the Members of the Company to be held in 2022.

 

Further information on the proposed Directors

Vladimir Bychkov, Vice President, Logistics and Business Development, Delo Group

Mr. Bychkov was appointed Vice President of Logistics and Business Development at Delo Group in August 2020. Mr. Bychkov has worked at Delo Group over a period of 20 years, starting his career as a freight forwarder in 2000 .   Positions held during his tenure include President of Ruscon, the container and logistics segment of Delo Group (2010-2018); CEO of Delo Group, where he was instrumental to M&A, strategic partnerships, attracting equity finance while successfully transforming the Group into an efficient transport business with a core focus on stevedoring and logistics (2004-2009); and Deputy CEO (2003-2004).

Between 2018 and 2020 Mr. Bychkov served as Chief Executive Officer of Global Ports Management LLC and leaded the transformational shift of the Group towards becoming a centralised client-oriented business with increased operational efficiency and reinforced leadership position in the industry

Mr. Bychkov holds degrees in law and finance from both the Academy of Federal Security and the Finance Academy of the Russian Federation respectively,  and an Executive MBA from the School of Business of Moscow State University. 

 

Andrey Lenvalskiy , Vice President, Investments and Capital Markets, Delo Group

Mr. Lenvalskiy was appointed as Vice President, Investments and Capital Markets at Delo Group in March 2020.

Prior to this, he worked in the global corporate and investment banking division of Bank of America Securities from 2011 to 2020, advising major Russian and international companies in the transport, infrastructure and natural resources sectors on M&A, equity and debt placements. Prior to this, he worked in the oil and gas team of the investment banking department of Renaissance Capital (2010-2011). He started his career in 2007 at Troika Dialog (now Sberbank CIB).

Mr. Lenvalskiy graduated with honours from the National Research University Higher School of Economics with a degree in international business. He was also the 2017 Corporate Business winner at the HSE Alumni Awards.

 

Andrey Pavlyutin , currently holds the position of Deputy Chief Commercial Officer of Global Ports Management and will step down from this role to take a new leading position outside of the Group prior to the AGM

Mr. Andriy Pavlyutin nominated to replace Mr. Demos Katsis, representing Ilibrinio Establishment Ltd.

Mr. Pavlyutin has held the position of Deputy Commercial Director of Global Ports Management since 2016, a role in which he has participated in the development and implementation of the Group's commercial strategy, development and approval of preferences and management of sales departments in the North-West and Far East.

Prior to this, he was Vice President of Logistics at First Quantum Group between 2014 and 2016 and CEO of FLC Group between 2014 and 2015. He previously held director roles at Container Terminal Illichivsk (2013-2018), Sovfracht UUT SA (2008-2013), Sovfracht Ukraine (2007-2008) and LLC Ukrainian Universal Terminal (2006-2008). Mr. Pavlyutin started his career at Maersk in 1997, holding a number of roles across the business in Ukraine, USA and Russia.

Mr. Pavlyutin holds a Specialist Diploma in Automation and Control in Technical Systems from Odessa Polytechnic University.

 

ENQUIRIES

Global Ports Investor Relations

Mikhail Grigoriev / Tatiana Khansuvarova

+7 (812) 677 15 57

+7 916 991 73 96

E-mail: [email protected]

Global Ports Media Relations

Margarita Potekhina

+7 (812) 677 15 57 ext. 2889

E-mail: [email protected]

Teneo

 

Zoë Watt / Douglas Campbell

+44 20 7260 2700

E-mail: [email protected]

 

NOTES TO EDITORS

Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container throughput.[1]

Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign Russian trade and transit cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal[2] and Moby Dik[3] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[4] (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminal Yanino Logistics Park[5] located in the vicinity of St. Petersburg.

Global Ports' revenue for 2020 was USD 384.4 million and Adjusted EBITDA was USD 209.7 million. Consolidated Marine Container Throughput was 1,533 thousand TEU in 2020 .

Global Ports' major shareholders are Delo Group, the largest intermodal container and port operator in Russia[6] (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operate a terminal network of 75 terminals globally. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).

For more information please see: www.globalports.com

LEGAL DISCLAIMER

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. Any forward-looking statement is based on information available to Global Ports as of the date of the statement and, other than in accordance with its legal or regulatory obligations, Global Ports does not intend or undertake to update or revise these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements involve known and unknown risks and Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially from what is expressed or implied by these statements. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations. All written or oral forward-looking statements attributable to Global Ports are qualified by this caution.

DEFINITIONS

First Container Terminal (FCT) is located in the St. Petersburg harbour, Russia's primary gateway for container cargo and is one of the first specialised container terminals established in Russia. The Global Ports Group owns a 100% effective ownership interest in FCT. The results of FCT are fully consolidated.

Moby Dik (MD) is located on the St. Petersburg ring road, approximately 30 kilometres from St. Petersburg, at the entry point of the St. Petersburg channel. It is the only container terminal in Kronstadt. The Global Ports Group owns a 75% effective ownership interest in MD, CMA Terminals currently has a 25% effective ownership interest. The results of MD are accounted in the Global Ports' financial information using the equity method of accounting (proportionate share of net profit shown below EBITDA).

Petrolesport (PLP) is located in the St. Petersburg harbour, Russia's primary gateway for container cargo. The Group owns a 100% effective ownership interest in PLP. The results of PLP are fully consolidated.

Ro-Ro, roll on-roll off is cargo that can be driven into the belly of a ship rather than lifted aboard. Includes cars, buses, trucks and other vehicles.

Revenue per TEU is defined as the Global Ports Group's Consolidated Container Revenue divided by total Consolidated Container Marine Throughput.

TEU is defined as twenty-foot equivalent unit, which is the standard container used worldwide as the uniform measure of container capacity; a TEU is 20 feet (6.06 metres) long and eight feet (2.44 metres) wide and tall.

Ust Luga Container Terminal (ULCT) is located in the large multi-purpose Ust-Luga port cluster on the Baltic Sea, approximately 100 kilometres westwards from St. Petersburg city ring road. ULCT began operations in December 2011. The Global Ports Group owns an 80% effective ownership interest in ULCT, Eurogate, the international container terminal operator, currently has a 20% effective ownership interest. The results of ULCT are fully consolidated.

Vostochnaya Stevedoring Company (VSC) is located in the deep-water port of Vostochny near Nakhodka on the Russian Pacific coast, approximately eight kilometres from the Nakhodka-Vostochnaya railway station, which is connected to the Trans-Siberian Railway. The Group owns a 100% effective ownership interest in VSC. The results of VSC are fully consolidated.

Yanino Logistics Park (YLP) is the first terminal in the Group's inland terminal business and is one of only a few multi-purpose container logistics complexes in Russia providing a comprehensive range of container and logistics services at one location. It is located approximately 70 kilometres from the Moby Dik terminal in Kronstadt and approximately 50 kilometres from PLP. The Global Ports Group owns a 75% effective ownership interest in YLP, CMA Terminals currently has a 25% effective ownership interest. The results of YLP are accounted in the Global Ports' financial information using the equity method of accounting (proportionate share of net profit shown below EBITDA).

LEGAL DISCLAIMER

Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward-looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. Any forward-looking statement is based on information available to Global Ports as of the date of the statement and, other than in accordance with its legal or regulatory obligations, Global Ports does not intend or undertake to update or revise these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Forward-looking statements involve known and unknown risks and Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially from what is expressed or implied by these statements. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations. All written or oral forward-looking statements attributable to Global Ports are qualified by this caution.

 

[1] Company estimates based on 2020 throughput and the information published by the "ASOP".

[2] In which Eurogate currently has a 20% effective ownership interest.

[3] Joint venture in which CMA Terminals currently has a 25% effective ownership interest.

[4] Joint ventures in each of which CMA Terminals currently has a 25% effective ownership interest.

[5] Joint venture in which CMA Terminals currently has a 25% effective ownership interest.

[6]According to publicly available data at www.delo-group.com.

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