Board Approval of Dividend Policy
Globaltrans Investment PLC (the “Company” and together with its consolidated subsidiaries “Globaltrans” or the “Group”), (LSE ticker: GLTR) today announces that its Board of Directors approved the Company's dividend policy.
The dividend policy is to recommend to shareholders, for their approval at the Group’s Annual General Meeting, a dividend per annum of not less than 30 percent of the imputed consolidated net profit of the Group, if any, based on the Group's consolidated financial statements for the immediately preceding financial year, prepared in accordance with International Financial Reporting Standards as adopted by the EU.
When adopting the dividend policy, the Board of Directors expects that it will remain in force for an indefinite period of time. However, the provisions of this dividend policy are subject to modification from time to time as the Board of Directors may deem appropriate. The payment of any dividend is subject to the requirements of Cypriot law which provides that dividends can be paid out of net accumulated distributable profits of the Company.
For further details and to read the full dividend policy, please visit the Globaltrans corporate website (www.globaltrans.com).
Globaltrans Investor Relations
+357 25 503 153
For international media
Holloway & Associates
Laura Gilbert / Zoe Watt
+44 20 7240 2486
NOTES TO EDITORS
Globaltrans is a leading private freight rail transportation group with operations in Russia, the CIS countries and the Baltic countries. The Group provides services to more than 650 customers, and its key customers include companies in, or suppliers to, a number of large Russian industrial groups in the metals and mining and the oil products and oil sectors. Globaltrans was the first freight rail transportation group with operations in Russia to have an international GDR listing and its global depositary receipts (ticker symbol: GLTR) have been listed on the Main Market of the London Stock Exchange since May 2008.
To learn more about Globaltrans, please visit www.globaltrans.com.
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might', the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations.