Etalon Launches Change of the Depositary
Source: RNS
17 May 2023
Etalon Group Launches the Procedure for Changing the Depositary
ETALON GROUP PLC ("Etalon Group" or the "Company"), one of Russia's largest and longest-established development and construction companies, announces that it has agreed to change the depositary managing its Global Depositary Receipts (GDRs) Programme.
The current operator of the Company's global depositary receipts is the Bank of New York Mellon, which provides depositary services to Etalon Group in accordance with the deposit agreement dated 12 April 2021. The Company has agreed to appoint RCS Issuer Services S.AR.L. as its new depositary within the time period established by the current deposit agreement.
Holders of Etalon Group's GDRs are not required to take any action in connection with the change of the depositary.
For more information on the new depositary, please visit http://www.rcsgroup.lu/
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
EM
About Etalon Group
Founded in 1987, Etalon Group is one of Russia's largest development and construction companies. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. In 2021, the Company began a regional expansion programme and has already launched new projects in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With a 35-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 delivered 8.6 mln 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 5,800 people, and its nationwide sales and marketing network covers 35 Russian regions.
Etalon Group's assets comprise 38 projects at the design and construction stages, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 6.4 mln sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2022 was RUB 288 billion.
In 2022, Etalon Group's new contract sales totalled 292 ths sqm, or RUB 58.7 billion, not including accumulated new contract sales at YIT Russia as of its acquisition.
The Company's revenue in 2022 amounted to RUB 80.6 billion, with EBITDA of RUB 16.5 billion.
Etalon Group's GDRs have been listed on the Main Market of the London Stock Exchange since 20 April 2011 and in the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.
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