Mostotrest May 18, 2020 General Shareholders Meeting to consider restructuring
Mostotrest Extraordinary General Shareholders Meeting to be held in Moscow on May 18, 2020 will consider restructuring of the Company through spin-off of the Roads and Bridges Joint Stock Company, and the election of its Board of Directors. The issue of the restructuring will be submitted to shareholders for consideration in connection with the expected establishment of the infrastructure construction holding based on GC NatProjectStroy Joint Stock Company with VEB.RF participation.
The Board of Directors also approved the buyback price of the Company's shares. Based on the opinion of the appraiser OK Finances LLC and the average weighted price determined based on the results of public trading for the six months preceding the date of the Board meeting, the buyback price is set at RUB220.44 per ordinary registered share of the Company. In accordance with the existing legislation, all shareholders who will vote against the restructuring of the Company through spin-off or will not take part in voting on that agenda item, will be entitled to exercise the right to buyback. In addition, shareholders will be invited to participate in the newly established Roads and Bridges JSC.
The record date for Mostotrest Extraordinary General Shareholders Meeting is March 24, 2020.
Mostotrest PJSC is the largest diversified infrastructure construction company with a footprint 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, Mostotrest 2016 share of the Russian transport infrastructure construction market was 14.6%.
The Mostotrest Group core business segments include construction and reconstruction of bridges (including road, railway and city bridges), roads and other transport infrastructure, as well as road maintenance, repair and operation services. In 2012, Mostotrest also diversified into road concession management.
The company was founded in 1930 for the construction of off-gauge and extra-large bridges.
Currently, Mostotrest is involved in the implementation of a number of complex integrated transport infrastructure 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, as well as construction of the Kerch Strait Bridge.For more detailed information about Mostotrest please visit: www.mostotrest.ru