Frontier Development PLC

AGM Information • Nov 7, 2014

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RNS Number : 3878W

AFI Development PLC

07 November 2014

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")

Annual General Meeting held at 2 p.m. EEST on 6 November 2014

At the Annual General Meeting of shareholders of AFI Development PLC  held on 6 November 2014 at the offices of the Company Secretary, Messrs Fuamari Secretarial Limited, at 6 Spyrou Kyprianou Av., 3070 Limassol Cyprus at 2 p.m. EEST, 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 2013, together with the reports of the Directors and auditors thereon	523,847,027	0	0	0	523,847,027
2.   To re-elect Mr. Lev Leviev as Director and Executive Chairman	523,847,027	0	0	0	523,847,027
3.   To re-elect Mr. Mark Groysman as an Executive Director	523,847,027	0	0	0	523 847 027
4.   To re-elect Mr. Avraham Noach Novogrocki as a Non-Executive Director	523,847,027	0	0	0	523,847,027
5.   To re-elect Mr. Christakis Klerides as a Non-Executive Senior Independent Director	523,847,027	0	0	0	523,847,027
6.   To re-elect Mr. Moshe Amit as a Non-Executive Independent Director	523,847,027	0	0	0	523,847,027
7.   To re-elect Mr. John Robert Camber Porter as a Non-Executive Independent Director	523,847,027	0	0	0	523,847,027
8.   To re-elect Mr. Panayiotis Demetriou as a Non-Executive Independent Director	523,847,027	0	0	0	523,847,027
9.   To appoint chartered accountants Messrs. KPMG Limited (Cyprus) as the Company auditors and to authorise the Directors to agree on their remuneration	523,847,027	0	0	0	523,847,027
10. 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 78,577.05; such authority to expire on the earlier of the conclusion of the Company's next annual general meeting and 30 November 2015 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.	523,820,242	26,785	0	0	523,847,027
11. To adopt the Company's Articles of Association produced to the meeting and initialled by the Chairman of the meeting for the purpose of identification as the Articles of Association of the Company in substitution for, and to the exclusion of, the existing Articles of Association.	523,847,027	0	0	0	523,847,027

B shares:

Resolutions	For	Against	Abstain	Withheld	Total
1.   To adopt the Consolidated Financial Statements of the Company for the year ended 31 December 2012, together with the reports of the Directors and auditors thereon	342,799,662	0	0	181,047,365	523,847,027
2.  To re-elect Mr. Lev Leviev as Director and Executive Chairman	342,799,662	0	0	181,047,365	523,847,027
3.  To re-elect Mr. Mark Groysman as an Executive Director	342,799,662	0	0	181,047,365	523,847,027
4.   To re-elect Mr. Avraham Noach Novogrocki as a Non-Executive Director	342,799,662	0	0	181,047,365	523,847,027
5.    To re-elect Mr. Christakis Klerides as a Non-Executive Senior Independent Director	342,799,662	0	0	181,047,365	523,847,027
6.  To re-elect Mr. Moshe Amit as a Non-Executive Independent Director	342,799,662	0	0	181,047,365	523,847,027
7.  To re-elect Mr. John Robert Camber Porter as a Non-Executive Independent Director	342,799,662	0	0	181,047,365	523,847,027
8.  To re-elect Mr. Panayiotis Demetriou as a Non-Executive Independent Director	342,799,662	0	0	181,047,365	523,847,027
9.  To appoint chartered accountants Messrs. KPMG Limited (Cyprus) as the Company auditors and to authorise the Directors to agree on their remuneration	342,799,662	0	0	181,047,365	523,847,027
10. 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 78,577.05; such authority to expire on the earlier of the conclusion of the Company's next annual general meeting and 30 November 2015 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	342,799,662	0	0	181,047,365	523,847,027
11.  To adopt the Company's Articles of Association produced to the meeting and initialled by the Chairman of the meeting for the purpose of identification as the Articles of Association of the Company in substitution for, and to the exclusion of, the existing Articles of Association.	342,799,662	0	0	181,047,365	523,847,027

- ENDS -

For further information, please contact:

AFI Development, Moscow                              +7 495 796 9988                                               

Ilya Kutnov

Ekaterina Shubina

Citigate Dewe Rogerson, London                  +44 20 7638 9571

David Westover

Sandra Novakov

Shelly Chadda

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

END

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