Resolutions of PJSC NCSP’s Board of Directors
Novorossiysk Commercial Sea Port Group reports the resolutions approved by PJSC NCSP’s Board of Directors in the meeting dated 23 December 2016, which are subject to mandatory disclosure under Russian law: to approve amendments to the Regulations on the Audit Committee of PJSC NCSP Board of Directors; to recommend the Regulations on Remuneration of Members of PJSC NCSP Board of Directors for approval by general meeting of shareholders; to approve the regulations on the Internal Control and Risk Management Service of PJSC NCSP; to approve the regulations on the Internal Control and Risk Management System of PJSC NCSP. Besides, PJSC NCSP’s Board of Directors approved the resolution the resolution to recognize Vladimir Kayashev, member of the Board of Directors of PJSC NCSP, as the Independent Director, notwithstanding formal indications of association with a material shareholder of the Company.
NCSP Group is the largest port operator in Russia and the third largest in Europe, in terms of cargo turnover in 2015. NCSP shares are traded on Russia's Moscow Exchange (ticker: NMTP) and on the London Stock Exchange in the form of GDRs (ticker: NCSP). NCSP Group cargo turnover in 2015 totalled 139.7 million tonnes. Consolidated revenue to IFRS in 2015 totalled USD 877 million, and EBITDA was USD 657 million. NCSP Group consolidates the following companies: PJSC Novorossiysk Commercial Sea Port, LLC Primorsk Trade Port, JSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, JSC NCSP Fleet, JSC NLE, OJSC IPP, Baltic Stevedore Company LLC, and JSC SFP.
