Frontier Development PLC

AGM Information • Aug 1, 2016

National Storage Mechanism | Additional information

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RNS Number : 8895F

AFI Development PLC

01 August 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")

Results of General Meeting held on 1 August 2016

At the General Meeting of shareholders of AFI Development Plc held on 1 August 2016 at the offices of the Company Secretary, Fuamari Secretarial Limited, at 6 Spyrou Kyprianou Av., 3070 Limassol Cyprus at 10.00 a.m. EEST, to approve the Disposal as detailed in the circular issued to Shareholders on 15 July 2016 (the "Circular"), all Resolutions were duly approved and passed by shareholders.

As detailed in the Circular, the Disposal is subject to certain other Conditions.  In addition, if all of the agreements relating to the Guarantee, Standstill, Deferrals and New Loan, as detailed and defined in the Company's announcement of 25 July 2016, are entered into and all requisite approvals (including, if necessary, shareholder approval) are obtained prior to Completion of the Disposal, the Board may determine not to proceed with the Disposal.

Further announcements will be made in this regard as appropriate.

Capitalised terms used herein but not defined have the same meaning given to them as in the Circular.

A ordinary shares:

Resolutions	For	Against	Abstain	Withheld	Total
1.   Approval of the Disposal (as such term is defined and described in the circular) on the terms and subject to the conditions of, inter alia, the Transaction Documents (as such term is defined and described in the Circular) for the purposes of Chapter 10 of the Listing Rules of the FCA.	336,950,989	5,196,024	181,700,014	0	523,847,027
2.   Approval of the Board of Directors of the Company (as defined in the Circular) to take all necessary or appropriate steps and to do all necessary or appropriate things to implement, complete or to procure the implementation or completion of the Disposal and give effect thereto with such variations and amendments to the terms and conditions thereof as the Board may approve and consider not to be material in the context of the Disposal and to do, approve and execute all other acts, things and documents necessary or, in the opinion of the Board, desirable, in order to effect or facilitate the Disposal.	336,950,989	5,196,024	181,700,014	0	523,847,027

B ordinary shares:

Resolutions	For	Against	Abstain	Withheld	Total
1.      Approval of the Disposal (as such term is defined and described in the circular) on the terms and subject to the conditions of, inter alia, the Transaction Documents (as such term is defined and described in the Circular) for the purposes of Chapter 10 of the Listing Rules of the FCA.	342,799,667	1,598,154	0	179,449,206	523,847,027
2.      Approval of the Board of Directors of the Company (as defined in the Circular) to take all necessary or appropriate steps and to do all necessary or appropriate things to implement, complete or to procure the implementation or completion of the Disposal and give effect thereto with such variations and amendments to the terms and conditions thereof as the Board may approve and consider not to be material in the context of the Disposal and to do, approve and execute all other acts, things and documents necessary or, in the opinion of the Board, desirable, in order to effect or facilitate the Disposal.	342,799,667	1,598,154	0	179,449,206	523,847,027

A copy of the resolutions passed at today's General Meeting will be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.    

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For further information, please contact:

AFI Development, Moscow                              +7 495 796 9988

Ilya Kutnov, Corporate Affairs/Investments Director (Responsible for arranging the release of this announcement)

Citigate Dewe Rogerson, London                    +44 20 7638 9571

David Westover 

Sandra Novakov

Marina Zakharova de Calero

This announcement contains inside information.

About AFI Development

AFI Development is one of the leading real estate development companies operating in Russia. Established in 2001, AFI Development is a publicly traded subsidiary of Africa Israel Investments Ltd.

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

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