AFI Development PLC AGM Statement (5526N)

TIDMAFRB TIDMAFID

RNS Number : 5526N

AFI Development PLC

27 October 2016

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION

IN OR INTO THE RUSSIAN FEDERATION, THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN

AFI DEVELOPMENT PLC

("AFI DEVELOPMENT" OR "THE COMPANY")

Annual General Meeting held at 3 p.m. EEST on 26 October 2016

At the Annual General Meeting of shareholders of AFI Development PLC held on 26 October 2016 at the offices of the Company Secretary, Messrs Fuamari Secretarial Limited, at 6 Spyrou Kyprianou Av., 3070 Limassol Cyprus at 3 p.m. EEST, resolutions relating to the following matters were duly approved and passed by shareholders:

A shares:

 
 Resolutions                          For       Against     Abstain     Withheld      Total 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 1. To adopt the Consolidated 
  Financial Statements 
  of the Company for the 
  year ended 31 December 
  2015, together with 
  the reports of the Directors 
  and auditors thereon            337,831,768      0      186,015,257      2       523,847,027 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 2. To re-elect Mr. Lev 
  Leviev as Director and 
  Executive Chairman              337,831,768      0      186,015,257      2       523,847,027 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 3. To re-elect Mr. Moshe 
  Amit as a Non-Executive 
  Independent Director            337,796,768      0      186,050,257      2       523,847,027 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 4. To re-elect Mr. Panayiotis 
  Demetriou as a Non-Executive 
  Independent Director            337,796,768   35,000    186,015,257      2       523,847,027 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 5. To appoint chartered 
  accountants Messrs. 
  KPMG Limited (Cyprus) 
  as the Company auditors 
  and to authorise the 
  Directors to agree on 
  their remuneration              337,796,768      0      186,050,257      2       523,847,027 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 6. To approve that the 
  Directors to be generally 
  and unconditionally 
  authorised, in accordance 
  with Articles 10-12 
  and the terms of any 
  resolution creating 
  new shares, to exercise 
  any power of the Company 
  to allot and grant options 
  or rights to subscribe 
  for or to convert securities 
  into shares of the Company, 
  pursuant to an employee 
  share scheme, up to 
  a maximum nominal amount 
  of USD 104,769.41; such 
  authority to expire 
  on the earlier of the 
  conclusion of the Company's 
  next annual general 
  meeting and 30 November 
  2017 but, in each case, 
  so that the Company 
  may make offers and 
  enter into agreements 
  during the relevant 
  period which would, 
  or might, require shares 
  to be allotted or rights 
  to subscribe for or 
  convert securities into 
  shares to be granted 
  after the authority 
  ends and the Directors 
  may allot shares or 
  grant rights to subscribe 
  for or convert securities 
  into share under any 
  such offer or agreement 
  as if the authority 
  had not ended.                  337,794,582    2,186    186,050,257      2       523,847,027 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 7. To approve the amendment 
  of the minimum number 
  of directors in article 
  107 of the Company's 
  Articles of Association 
  from five to three.             337,831,768      0      186,015,257      2       523,847,027 
-------------------------------  ------------  --------  ------------  ---------  ------------ 
 

B shares General Meeting:

 
 Resolutions                          For       Against   Abstain    Withheld        Total 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 1. To adopt the Consolidated 
  Financial Statements 
  of the Company for the 
  year ended 31 December 
  2015, together with 
  the reports of the Directors 
  and auditors thereon            342,799,663      0         0      181,047,364   523,847,027 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 2. To re-elect Mr. Lev 
  Leviev as Director and 
  Executive Chairman              342,799,663      0         0      181,047,364   523,847,027 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 3. To re-elect Mr. Moshe 
  Amit as a Non-Executive 
  Independent Director            342,799,663      0         0      181,047,364   523,847,027 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 4. To re-elect Mr. Panayiotis 
  Demetriou as a Non-Executive 
  Independent Director            342,799,663      0         0      181,047,364   523,847,027 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 5. To appoint chartered 
  accountants Messrs. 
  KPMG Limited (Cyprus) 
  as the Company auditors 
  and to authorise the 
  Directors to agree on 
  their remuneration              342,799,663      0         0      181,047,364   523,847,027 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 6. To approve that the 
  Directors to be generally 
  and unconditionally 
  authorised, in accordance 
  with Articles 10-12 
  and the terms of any 
  resolution creating 
  new shares, to exercise 
  any power of the Company 
  to allot and grant options 
  or rights to subscribe 
  for or to convert securities 
  into shares of the Company, 
  pursuant to an employee 
  share scheme, up to 
  a maximum nominal amount 
  of USD 104,769.41; such 
  authority to expire 
  on the earlier of the 
  conclusion of the Company's 
  next annual general 
  meeting and 30 November 
  2017 but, in each case, 
  so that the Company 
  may make offers and 
  enter into agreements 
  during the relevant 
  period which would, 
  or might, require shares 
  to be allotted or rights 
  to subscribe for or 
  convert securities into 
  shares to be granted 
  after the authority 
  ends and the Directors 
  may allot shares or 
  grant rights to subscribe 
  for or convert securities 
  into share under any 
  such offer or agreement 
  as if the authority 
  had not ended                   342,799,663      0         0      181,047,364   523,847,027 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 7. To approve the amendment 
  of the minimum number 
  of directors in article 
  107 of the Company's 
  Articles of Association 
  from five to three.             342,799,663      0         0      181,047,364   523,847,027 
-------------------------------  ------------  --------  --------  ------------  ------------ 
 

B shares Meeting of Independent Members:

 
 Resolutions                        For   Against   Abstain    Withheld        Total 
---------------------------------  ----  --------  --------  ------------  ------------ 
  3. To re-elect Mr. 
   Moshe Amit as a Non-Executive 
   Independent Director              5       0         0      181,047,362   181,047,367 
---------------------------------  ----  --------  --------  ------------  ------------ 
 4. To re-elect Mr. Panayiotis 
  Demetriou as a Non-Executive 
  Independent Director               5       0         0      181,047,362   181,047,367 
---------------------------------  ----  --------  --------  ------------  ------------ 
 

- ENDS -

For further information, please contact:

   AFI Development, Moscow                              [phone] 

Ilya Kutnov

   Citigate Dewe Rogerson, London       [phone] 

David Westover

Sandra Novakov

Isabelle Andrews

About AFI Development

Established in 2001, AFI Development is one of the leading real estate development companies operating in Russia.

AFI Development is listed on the Main Market of the London Stock Exchange and aims to deliver shareholder value through a commitment to innovation and continuous project development, coupled with the highest standards of design, construction and quality of customer service.

AFI Development focuses on developing and redeveloping high quality commercial and residential real estate assets across Russia, with Moscow being its main market. The Company's existing portfolio comprises commercial projects focused on offices, shopping centers, hotels and mixed-use properties, and residential projects. AFI Development's strategy is to sell the residential properties it develops and to either lease the commercial properties or sell them for a favourable return.

AFI Development is a leading force in urban regeneration, breathing new life into city squares and neighbourhoods and transforming congested and underdeveloped areas into thriving new communities. The Company's long-term, large-scale regeneration and city infrastructure projects establish the necessary groundwork for the successful launch of commercial and residential properties, providing a strong base for future.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMAKADDPBDDFKB

(END) Dow Jones Newswires

October 27, 2016 02:00 ET (06:00 GMT)