ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established residential real estate developers, announces that an extraordinary general meeting of shareholders (“EGM”) will be held at 36 Agias Elenis str., Galaxias Building, Block B, 6th floor, office 602, 1061, Nicosia, Cyprus on 15 April 2020, at 11 a.m. Cyprus time.
The Board of Directors of the Company has proposed that the EGM authorize the Company to buy back global depositary receipts (GDRs), each representing one ordinary share (the Buy-back), for general corporate purposes, in accordance with sections 57A to 57F of the Companies Law, Chapter 113 of the statute laws of Cyprus (the Law) and in accordance with Regulation 41 of the Company’s articles of association.
The following resolutions will be proposed at the EGM:
SPECIAL RESOLUTIONS:
The Board of Directors be and is hereby authorized to acquire global depositary receipts representing the Company’s ordinary shares (the “GDRs”) as they may in their absolute discretion determine from time to time, within twelve months from the passing of the present special resolution until 14 April 2021 subject to compliance with the terms set out below and the provisions of sections 57A to 57F of the Companies Law Cap. 113 (the “Law”):
- the maximum number of the GDRs (with each GDR representing 1 ordinary share of the Company) that may be acquired and held by or on behalf of the Company shall not exceed 10 per cent of the subscribed capital of the Company;
- the duration of the period for which GDRs bought back may be held by the Company may not exceed two years;
- the minimum price for acquiring the GDRs shall be GBP £0.00005 per GDR (or the U.S. dollar or Rouble equivalent at the time of the purchase);
- the maximum price for acquiring the GDRs shall not exceed by more than 5 per cent the average market price for acquiring the GDRs of the Company during the last five stock exchange sessions (on the London Stock Exchange or the Moscow Exchange) immediately preceding the day on which the GDRs are acquired;
- the monetary consideration payable by the Company in respect of the acquisition of GDRs is to be paid out of the realized and non-distributed profits of the Company; and
- the acquisition of GDRs (including those previously acquired and held by or on behalf of the Company) shall not have the effect of reducing the net assets of the Company below the amount of the subscribed capital plus those reserves which may not be distributed under the Law or the articles of association in accordance with section 169A of the Law.
The Buy-back is in accordance with the Company’s articles of association and the Board be and is hereby further authorized to decide on and eventually proceed with the buy-back of the Company’s GDRs as it thinks fit and proper always within the scope of this resolution and to take all requisite actions to effect the Buy-back including entering into such agreements with third parties as they deem necessary.
The Notice of EGM and the Form of Proxy were sent to shareholders on 24 March 2020, and copies of these documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. The Notice of Meeting is also available on the Etalon Group website at www.etalongroup.com.
This and other recent announcements are available on the Etalon Group website:
https://www.etalongroup.com/en/news/.
IR Team
About Etalon Group
Founded in 1987, today Etalon Group is one of the leading nationwide players in Russia’s development and housing construction sector. The Company develops real estate projects for the middle class in Moscow, the Moscow region and St Petersburg. The Company has been actively developing in eight regions across Russia since 2021, with large-scale projects under way in Omsk, the Novosibirsk region, Ekaterinburg, Tyumen and Kazan. With 38 years of successful operations and ongoing regional expansion, the Company remains one of the largest players in the Russian real estate market. Since its foundation, Etalon Group has delivered 9.7 mln sqm of real estate.
Thanks to its integrated business model, Etalon Group creates 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 more than 6,000 people.
Etalon Group’s total assets comprise 42 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 5.5 million sqm, as well as a construction and maintenance division. According to Nikoliers, the value of Etalon Group assets as of 31 December 2025 was RUB 318 billion.
In 2025, Etalon Group’s new contract sales totalled 671 ths sqm, or RUB 153.5 billion.
The Company’s revenue in 2025 amounted to RUB 154 billion, with EBITDA of RUB 31 billion.
Etalon Group shares are traded on the Moscow Exchange (ticker ETLN) and have been included in the Level 2 quotation list since September 2025.