Global Ports finalises inter-group merger
Global Ports Investments PLC announces that following the approvement of the inter-group merger announced on 25 May 2021, the Extraordinary General Meeting of the Members today adopted the following resolutions:
To approve the proposed Restructuring and Merger Plan dated 25/05/2021 under which National Container Holding Company Limited will transmit by virtue of the Court Order which shall approve the Plan, the total of its assets and liabilities to the Company and will be dissolved without going into liquidation.
To authorise any one of the directors and/or the secretary and/or an authorised representative of the Company to carry out all necessary measures and actions for the implementation of the Plan.
The General Meeting of creditors of the Company, which was also held today, adopted the same resolutions.
Earlier, the GPI Board approved the inter-group merger, as the result of which Global Ports absorbs its 100 % subsidiary investment holding company, National Container Holding Company Limited, incorporated under the laws of Cyprus and being the direct shareholder of its main operating assets. The purpose of the merger is the simplification and alignment of the Group structure, direct ownership of the main operating assets, improvement of corporate governance within the Group and reduction of administrative expenses.
Global Ports Investments PLC is the leading operator of container terminals in the Russian market by capacity and container volumes.
Global Ports’ terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dik in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland (Multi- Link Terminals in Helsinki and Kotka). Global Ports also owns an inland container terminal Yanino Logistics Park located in the vicinity of St Petersburg.
Global Ports’ major shareholders are Delo Group, one of the largest private transportation and logistics holdings in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operates a global network of 75 terminals worldwide. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).
