Frontier Development PLC

AGM Information • Dec 17, 2019

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RNS Number : 0381X

AFI Development PLC

17 December 2019

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 Annual General Meeting held on 16 December 2019

London, 17 December 2019 - The Annual General Meeting ('AGM') of shareholders of AFI Development PLC was held on 16 December 2019 at the offices of the Company Secretary, Messrs Fuamari Secretarial Limited, at 4 Spyrou Kyprianou Av., 3070 Limassol Cyprus at 3 p.m. EEST. All 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 2018, together with the reports of the Directors and auditors thereon	345,953,177	0	0	177,893,850	523,847,027
2. To re-elect Mr. Elias Ebrahimpour as a Non-Executive Independent Director and Chairman	345,953,177	0	0	177,893,850	523,847,027
3. To re-elect Mr. Panayiotis Demetriou as a Non-Executive Independent Director	345,953,177	0	0	177,893,850	523,847,027
4. To re-elect Mr. Avraham Noach Novogrocki as a Non-Executive Independent Director	345,953,177	0	0	177,893,850	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	345,953,177	0	0	177,893,850	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 December 2020 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.	336,948,801	9,004,376	0	177,893,850	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 2018, 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. Elias Ebrahimpour as a Non-Executive Independent Director and Chairman	342,799,663	0	0	181,047,364	523,847,027
3.  To re-elect Mr. Panayiotis Demetriou as a Non-Executive Independent Director	342,7999,663	0	0	181,047,364	523,847,027
4.  To re-elect Mr. Avraham Noach Novogrocki 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 December 2020 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

B shares Meeting of Independent Members:

Resolutions	For	Against	Abstain	Withheld	Total
2. To re-elect Mr. Elias Ebrahimpour as a Non-Executive Independent Director and Chairman	5	0	0	181,047,362	181,047,367
3.  To re-elect Mr. Panayiotis Demetriou as a Non-Executive Independent Director	5	0	0	181,037,362	181,047,367
4.  To re-elect Mr. Avraham Noach Novogrocki as a Non-Executive Independent Director	5	0	0	181,037,362	181,047,367

- ENDS -

For further information, please contact:

AFI Development, Moscow                    +7 495 796 9988                                               

Ilya Kutnov

Citigate Dewe Rogerson, London         +44 20 7638 9571

Sandra Novakov

Lucy Eyles

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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