Novorossiysk Commercial Sea Port Group reports that a number of related-party transactions were approved by PJSC NCSP’s Board of Directors on 27 February 2015.
1. approval of a series of related party transactions;
2. approval of a transaction subject to the rule of transactions valued above 10% and below 25% of the issuer’s assets book value (unconsolidated);
3. approval of amendments to exchange traded bonds issues (ISIN RU000A0JS7L0)
- amendments to the decision on placement for issues BO-01, BO-03, BO-04, and BO-05;
- amendments to the decision on emission for issues BO-01, BO-03, BO-04, and BO-05;
- amendments to the prospectus for issues BO-01, BO-02, BO-03, BO-04, and BO-05.
In the above agenda «placement of bonds» refers solely to approving amendments to previously registered issues of PJSC NCSP’s exchange traded bonds and respective emission documentation to bring these up to date with the current requirements of the Russian securities market regulations, and does not imply issue of new securities or raising new capital.
NCSP Group is the largest port operator in Russia and the third-largest in Europe, in terms of cargo turnover. NCSP Group cargo turnover in 2014 totalled 131 million tonnes. Consolidated revenue to IFRS in 2013 totalled USD 928 million and EBITDA was USD 510 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, OJSC NCSP Fleet, OJSC NLE, OJSC IPP, CJSC Baltic Stevedore Company, and CJSC SFP.