Etalon Group Board of Directors Meeting Results

4 May 2021

Etalon Group Board of Directors Meeting Results

ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces the results of a meeting of the Board of Directors held on 30 April 2021 in St Petersburg.

Changes in Board membership

The meeting adopted a resolution to expand the Group's Board of Directors. In addition to the current directors, the new Board includes the Company's CEO, Gennadiy Shcherbina and Alexander Voloshin.

Taking these changes into account, the members of the new Board of Directors and its committees are as follows:

Board of Directors:

·    Sergey Egorov, Chairman of Etalon Group's Board of Directors, non-executive director

·    Oleg Mubarakshin, non-executive director

·    Gennadiy Shcherbina, executive director

·    Maxim Berlovich, executive director

·    Dennis Vinokourov, non-executive director

·    Marina Ogloblina, independent non-executive director

·    Ganna Khomenko, independent non-executive director

·    Martin Cocker, independent non-executive director

·    Boris Svetlichny, independent non-executive director

·    Charalampos Avgousti, independent non-executive director;

·    Alexander Voloshin, independent non-executive director.

Remuneration and Nomination Committee:

·    Sergey Egorov, Committee Chairman, Chairman of Etalon Group's Board of Directors, non-executive director

·    Oleg Mubarakshin, non-executive director

·    Ganna Khomenko, independent non-executive director

·    Martin Cocker, independent non-executive director

·    Charalampos Avgousti, independent non-executive director

Strategy Committee:

·    Maxim Berlovich, Committee Chairman, executive director

·    Gennadiy Shcherbina, executive director

·    Oleg Mubarakshin, non-executive director

·    Sergey Egorov, Chairman of Etalon Group's Board of Directors, non-executive director

·    Dennis Vinokourov, non-executive director

·    Marina Ogloblina, independent non-executive director

·    Artyom Zasursky, Vice President for Strategy and Development, PJSFC Sistema

Audit Committee:

·    Martin Cocker, Committee Chairman, independent non-executive director

·    Boris Svetlichny, independent non-executive director

·    Ganna Khomenko, independent non-executive director

Investor Relations and Information Disclosure Committee:

·    Petr Kryuchkov, Committee Chairman, Director of Corporate Investments and Strategy

·    Dennis Vinokourov, non-executive director

·    Nikolai Minashin, Managing Director for Investor Relations, PJSFC Sistema

Commenting on the expansion of the Board of Directors, Sergey Egorov, Chairman of the Board of Directors, said:

"I am pleased to welcome the new directors and I am confident that their inclusion on the Board of Directors will help Etalon Group to improve the quality of its corporate governance. Gennady Shcherbina, who previously only sat on the Strategy Committee, has been Chief Executive Officer of the Company for several years. In line with best practice, the Board decided to include him as one of its members. In order to maintain a balance of interests of all shareholders, another independent director, Alexander Voloshin, also joined the Board. His many years of experience in finance and management will help to improve the Board's performance."

Other business

The Board of Directors also reviewed and approved Etalon Group's Annual Report for 2020.

Biographical information:

Gennadiy Shcherbina

Gennadiy Shcherbina began his career in construction in 2003 and has 18 years of experience in the industry. He served as the Head of Etalon Group's St Petersburg Regional Division from 2007 and was appointed Chief Executive Officer of Etalon Group in 2018. Gennadiy holds a PhD in Economics, and he graduated from the Marshal A. A. Grechko Naval Academy and the St Petersburg State University of Architecture and Civil Engineering.

Alexander Voloshin

Alexander Voloshin has 30 years of experience in the fields of economics, investment and asset management. He has spearheaded a number of investment funds and brokerage companies; in 1997-1998, he was a member of the Exchange Council of Moscow Exchange. Alexander later held high-ranking posts in Russia's Presidential Administration: Aide (1997-1998), Deputy Head of the Presidential Administration (1998-1999) and Head of the Presidential Administration (1999-2003). Alexander has served as the Chairman of the Board of Directors of RAO UES, Norilsk Nickel, Uralkali and Freight One. He is a partner and co-owner of the venture capital fund Genome Ventures. He is also a recipient of the Order for Merit to the Fatherland (4th class).

Alexander graduated from the Moscow Institute of Transport Engineers (now the Moscow State University of Railway Engineering) and the All-Union Academy of Foreign Trade (now the All-Russian Academy of Foreign Trade of the Ministry of Economic Development of the Russian Federation).

This and other recent announcements are available on the Etalon Group website: https://www.etalongroup.com/investor-relations/investor-news/ 

Contact Information

Etalon Group

IR Team

T: +44 (0) 20 8123 1328

E: ir@etalongroup.com 

EM

Sam VanDerlip

T.: +44 207 002 7859

E: vanderlip@em-comms.com 

About Etalon Group

Founded in 1987, Etalon Group is one of the largest development and construction companies in Russia. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 7.5 million sqm of real estate.

Thanks to its integrated business model, Etalon Group is able to create added value for customers and shareholders at every stage of development, from land plot analysis and acquisition to the operation and maintenance of existing properties. Etalon Group employs over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.

In 2019, Etalon Group acquired and consolidated 100% in Leader-Invest, one of Moscow's largest residential developers by size of land bank and number of projects currently available for sale.

Etalon Group's total assets comprise 20 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 2.8 million sqm, as well as a construction and maintenance division. Colliers International valued the Company's total assets at RUB 204 billion as of 31 December 2020.

In 2020, Etalon Group's new contract sales totalled 538 ths sqm, or RUB 79.9 billion. Deliveries in 2020 amounted to 540 ths sqm.

The Company's revenue in 2020 amounted to RUB 78.7 billion, with EBITDA of RUB 12.6 billion.

Etalon Group's GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and on the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.