April 2015, the Summa Group’s Far East Shipping Company announced its new Board of Directors. The EGM (Extraordinary General Shareholders Meeting) elected the following representatives. In alphabetical order: Summa Group 2015 – April – PT1 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY - Clive Denis Bode - Jacob Grapengiesser - Natalia Izosimova - Dmitry Kalinin - Vladimir Kayashev - Marat Shaidaev - Dmitry Shvets - Dmitry Shokhin - Andrey Uspensky
Bond series BO-01 was open for trading as of 11am on the 22nd of April 2015. The acceptance period for the bonds was opened to potential investors in the morning and closed again in the afternoon at 3pm. In 2015, the FESCO Board of Directors decided to increase the Rouble Bond series BO-01 from the initial 3 billion (May 2010) to 8.5 billion. MICEX approved the bond amendments on 21st April 2015. The Rouble Bonds series BO-01 consisted of 8.5 million bonds, to the equal value of 1 thousand RUB. The bonds circulation period is 34 months and the coupons are paid on the bonds biannually. FESCO is using the current situation to improve the debt currency structure in order to reduce, releverage and maximise the shareholder value. The funds received from the bonds will be used for debt refinancing within FESCO, particularly for the USD nominated Senior Secured Notes due in 2018 and 2020. Summa Group 2015 – April – PT1 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY Vneshprombank LTD was appointed as the underwriter.
2015 The NCSP (Novorossiysk Commercial Sea Port Group) has announced that the group’s first quarter of 2015 has seen an increase of 6% year on year. Currently, they have increased their turnover by 6 million tonnes year on year, reaching a total of 35.6 million tonnes in the first quarter. NCSP CEO, Sultan Batov, commented on the increase, “Cargo volumes have been growing for three months from the beginning of the year. This is possibly thanks to a continuous reduction of export duties on crude oil, which boosted export volumes, sustainable growth of domestic oil refining and oil product exports. It also created a good demand for Russian steel and non-ferrous metals supported by rouble devaluation and helped achieve target levels of coal trans-shipment. Improved weather conditions at Novorossiysk port, where storms lasted only five days in March versus ten days in February, as well as other factors, caused trans- shipment volumes to grow by 1 753.7 thousand tonnes or 16.5% in May versus February.” Summa Group 2015 – April – PT1 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY
2015 Liquid Cargo is up 1410 thousand tonnes to 28 353.6 thousand tonnes: 5,2% year on year. Bulk Cargo is up 180.5 thousand tonnes to 2 583.1 thousand tonnes: 7.7% year on year. General Cargo is up 543.1 thousand tonnes to 3 510.5 thousand tonnes: 18% year on year. Container Cargo is 118.1 thousand TEU and 1 178.5 thousand tonnes. Summa Group 2015 – April – PT1 FESCO – NCSP - STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY 0 5000 10000 15000 20000 25000 30000 Liquid Cargo Bulk Cargo General Cargo Container Cargo 1st Quarter Results Year-on-Year 2014 2015
port logistics, engineering, construction, oil and gas sectors as well as telecommunications. Summa Group is a diversified private holding that comprises of more then 10 000 people in 40 regions of Russia and abroad. Mr Ziyavudin Magomedov is the founder and shareholder of the Summa Group, which celebrated its 10 year anniversary in 2014. Summa Group 2015 – April – PT1 FESCO - NCSP- STROYNOVATSIYA – INTEX – YATEC – UNITED GRAIN COMPANY