Clarification regarding the essential legal entities controlled by the Company
Moscow, Russia - 30 August 2016 - HALS-Development (LSE, MICEX: HALS), a major Russian real estate Company, announces that due to making the Company's audited consolidated financial statements for the 6 months of the year 2016 according to IFRS, in accordance with the Russian legislation:
1) The following legal entities, disclosed as essential legal entities, controlled by the Company, have saved the status of organizations of essential importance for the Company:
- Limited liability company "Hals-Invest Development";
- Closed joint-stock company "Pansionat "Kamelia";
- Joint-stock company "Lubyanka-Development";
- Closed joint-stock company "PROMRESURS";
- Closed joint-stock company "Business park Novaya Riga";
- Closed joint-stock company "Hals-Technopark";
- Open joint-stock company "Investicii v razvitie tehnologiy"
- CiTer Invest B.V.;
- Limited Liability Company "Upravlyayuschaya kompaniya Kamelia".
2) The following legal entity, disclosed as essential legal entity, controlled by the Company, has lost the status of organization of essential importance for the Company:
- Closed joint-stock company "Experimentalniy zavod napitkov v Khamovnikakh".
Hals-Development ("the Company") is the fastest growing developing company, specializing in commercial and residential real estate; it controls all stages of development project: from making conception till the following management of the built object. The main shareholder of the Company is VTB Bank.
The Company was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The Company's shares are also listed on the Moscow Interbank Currency Exchange.
Starting operations in 1994, Hals-Development has successfully completed about 40 projects with a total area over 600,000 square meters. Hals-Development is currently developing such projects as development of hotel "Peking", building of Land Plot No. 11, MIBC "Moscow-City", selling of residential premises of "Nasledie", "Wine House", "Peking Gardens", "Teatralny Dom" and other projects in Moscow and regions. In 2011-2015 the Company put into operation more than 460 thousand sq.m., this is 6 large projects - shopping and entertainment mall "LETO" in Saint-Petersburg" (116 thousand sq. m.), business-center Sky-Light (110 thousand sq. m.), residential complex "Solnce" (60 thousand sq.m.), elite residential quarter "Literator" (67 thousand sq.m.), the shopping center "Children Dreamhouse Mall on Lubyanka" (73 thousand sq.m.) and resort "Kamelia" in Sochi (53 thousand sq.m.). The total value of development projects of HALS-Development is 1.6 mio sq.m.
For further information please contact:
Tel. +7 (495) 589-2222 (ext. 1338)
The information in the press release may contain forward-looking statements regarding future events or the future financial performance of Hals-Development. 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. We wish to caution you that these statements are only predictions and those actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date thereof or to reflect the occurrence of unanticipated events.
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