Global Ports EGM to appoint Constantinos Economides as Director
An Extraordinary General Meeting of shareholders of Global Ports Investments scheduled for September 27 2013 will consider among other issues the appointment of Constantinos Economides as a Director of the Company until the next annual general meeting of shareholders of the company with no remuneration be and is hereby approved, the Company said in a press release.
The shareholders will also approve the resignation of Mr. Robert Dirk Korbijn as the Director of the Company and termination of his authorities with immediate effect.
Mr. Constantinos Economides, Managing Director of Orangefield, is a Chartered Accountant and a member of the Institute of Chartered Accountants in England & Wales (ICAEW) from which he holds a practicing certificate to engage in public service in areas of taxation, management consultancy and corporate finance. He is ACA qualified and holds an MSc in Management Sciences. He trained with Ernst & Young (London) and Deloitte (Cyprus) before setting up his own firm, Fidelico in 2006. Fidelico has recently merged with Orangefield trust group.
Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates three container terminals in Russia (Petrolesport and Moby Dik in St. Petersburg, Vostochnaya Stevedoring Company in the Vostochny Port) and two container terminals in Finland (Multi-Link Terminals Helsinki and Multi-Link Terminals Kotka). Global Ports group also owns Yanino Logistics Park, located in the vicinity of St. Petersburg, and a 50% share in the major oil product terminal, AS Vopak E.O.S., in Estonia.
Global Ports' consolidated revenue for 2012 was USD 501.8 million. Adjusted EBITDA for 2012 was USD 288 million. The Group's Russian Ports segment handled a total container throughput of approximately 1.450 million TEUs in 2012 (excluding Yanino).
Global Ports major shareholders are Transportation Investments Holding Limited (operating under the brand name of N-Trans), one of the largest private transportation and infrastructure groups in Russia (37.5%), and APM Terminals B.V., whose core expertise is the design, construction, management and operation of ports, terminals and inland services with a global terminal network of 62 operating port facilities and 160 Inland Services operations, giving APM Terminals a global presence in 68 countries (37.5%). The remaining 25% of Global Ports shares are in public hands and held in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).
