Results of the Meeting of the Board of Directors of Mostotrest PJSC

29/04/19  

The Board of Directors of Mostotrest PJSC (hereinafter referred to as Mostotrest, the Company or the Group), during the meeting on April 26, 2019, set the date and approved the agenda for the Annual General Shareholders' Meeting, reviewed and approved the Annual Report and annual financial statements of the Company, as well as considered a number of other issues.

The Annual General Shareholders Meeting of the Company will be held on June 6, 2019. The AGSM record date is May 12, 2019. The meeting participants will elect members of the Board of Directors and the Audit Committee, select auditors according to Russian and international accounting standards, amend the Articles of Incorporation of Mostotrest PJSC and approve the Articles of Incorporation as amended, approve the amended General Shareholders' Meeting Rules of Procedure, as well as distribute profits based on 2018 results.

For the first time in the public history of the Company, the Board of Directors did not recommend dividends for 2018 to the General Shareholders Meeting, due to uncertainty regarding 2019 market outlook, persistently high levels of debt, financial costs associated with debt servicing and the continuing decline in the Group’s profits for the second year running.

NOTES TO EDITORS

PJSC Mostotrestis the largest diversified company in the field of infrastructure construction, with a presence across all key and related market segments, and a participant in pioneering public-private partnership projects in Russia. According to the EMBS Group, an independent industry consultancy, Mostotrests 2018 share of the Russian transport infrastructure construction market was 15.0%.

The Mostotrest Group key business segments include construction and reconstruction of bridges (including road, railway and city bridges), highways and other transport infrastructure, as well as road repair and maintenance services. In 2012, the Group diversified into a new business segment of road concession management.

The Company was established in 1930 for the construction of special and extra-large bridges.

Currently, Mostotrest is involved in a number of complex integrated transport infrastructure development projects, such as construction of several segments of the M-11 “Moscow – St. Petersburg” Highway, construction and reconstruction of segments of the M-4 Don Highway, and construction of the Kerch Strait Bridge.

For more detailed Company information, please visit www.mostotrest.ru