PJSC LSR Group announces a formal change in its share capital structure. Andrey Molchanov has become a new shareholder of PJSC LSR Group. Notification to this effect was received by PJSC LSR Group on December 25, 2015. Previously 57.56% of ordinary shares in PJSC LSR Group were held by AEM ASSET MANAGEMENT LIMITED, a company 100% owned by Andrey Molchanov.
As a result of the formal change in the share capital structure of PJCS LSR Group Andrey Molchanov, CEO, Chairman of the Executive Committee, member of the Board of Directors of PJSC LSR Group, has become the holder of 57.56% in PJSC LSR Group. The abovementioned shares were transferred from AEM ASSET MANAGEMENT LIMITED, a company 100% owned by Andrey Molchanov. Percentage of ordinary shares in PJSC LSR Group held by Andrey Molchanov before the change: 0%.
Notes to Editors:
PJSC LSR Group is a real estate development and building materials company founded in 1993 and operating in a number of complementary market segments. Its core business areas are production of building materials, real estate development and prefab construction. LSR Group's main operations are located in St. Petersburg, Moscow and Yekaterinburg. As of December 31, 2014 (according to Colliers International), the net sellable area of the projects in LSR Group's real estate portfolio is equal to 10m m2 with the market value of RUB 135bn. In 2014, the sales revenue of LSR Group amounted to RUB 92,347m (IFRS). LSR Group is a public company, with its GDRs traded on the London Stock Exchange and its ordinary shares traded on MOEX.
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