ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces the results of its latest meeting of the Board of Directors held on 23 July 2021 in St Petersburg.
Prospectus
At the meeting, the Board of Directors approved the prospectus detailing the issuance of a further 88,487,395 global depositary receipts in a block listing representing interests in ordinary shares of the Company. Upon approval by the UK Listing Authority, the prospectus will be available for review on the Company’s website and in the National Storage Mechanism:
https://www.etalongroup.com/
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Creation of a Special Committee
The Board of Directors considered a proposal put forward by the Company’s management team to acquire the property portfolio of JSC Elektrozavod, which includes land and buildings, for the purpose of its subsequent redevelopment. Since Sistema PJSFC could be one of the parties to the potential transaction, the acquisition would be a related-party transaction and subject to the relationship agreement signed on 19 February 2019 between Etalon Group and Capgrowth Investments Limited (a subsidiary of Sistema PJSFC). The Board of Directors has thus decided to create a Special Committee (the “Committee”) to review the transaction.
In line with good corporate governance practices and to facilitate transparency, the Committee will consist entirely of three independent directors, being Martin Cocker, Boris Svetlichny and Marina Ogloblina. The Committee’s responsibilities will include assessing the project’s economic viability and determining the necessary conditions for Etalon Group to consider pursuing the project.
Changes to committees
As part of measures to improve investor relations practices, the Board of Directors took the decision to add current independent Board member, Boris Svetlichny, to the Investor Relations and Information Disclosure Committee. Taking into account these changes, the make-up of the committee is as follows:
- Petr Kryuchkov, Committee Chairman, Director for Corporate Investments and Strategy
- Dennis Vinokourov, Non-Executive Director
- Nikolai Minashin, Managing Director for Investor Relations, PJSFC Sistema
- Boris Svetlichny, Independent Non-Executive Director.
Other decisions
The Board of Directors approved Etalon Group's "Insider Information Regulation" and the newest iteration of the Company's "Securities Dealing Code", which has been adapted based on changes to the aforementioned "Insider Information Regulation". These policies will soon be available on the "Corporate Governance" section of the Company's website.
In addition, the Board of Directors appointed Victoria Yareeva as the Company’s Corporate Secretary.
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.