NCSP shares are accepted for trading in MICEX’s quotation list “B”

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jul 2008

Novorossiysk Commercial Sea Port is announcing that on the basis of the issuer’s application and in accordance with the MICEX’s Listing Rules the ordinary shares of NCSP were approved for trading in Quotation List “B” (“Б”). «MICEX listing in Quotation List “B” we consider to be a definitely positive development that will raise confidence in our company and broaden the investor base. It will result in an upside of NCSP shares’ liquidity and improvement of company’s investment appeal”, said Roman Zinovyev, NCSP Vice President for Corporate Finance and Investor Relations.
At present NCSP shares are available for the following categories of investors: investment funds under investment companies’ and banks’ management; Deposit Insurance Agency; managed accounts; private pension funds (pension reserves); military mortgage funds and others.
According to the Association of Sea Ports, OAO NCSP (OAO Novorossiysk Commercial Sea Port) is the largest Russian port operator in terms of cargo turnover. OAO NCSP cargo turnover based on consolidated reports for 2007 totaled 79.4 million tonnes. OAO NCSP is traded on the London Stock Exchange and Russia’s RTS and MICEX. OAO NCSP earnings to IFRS for 2007 totaled $483.4 million, EBITDA totaled $227.9 million, and net profit totaled $93.7 million (according to consolidated financial reports).
OAO NCSP is the largest stevedoring company operating at Novorossiysk, a deepwater ice-free multi-product port on the Black Sea that is essentially Russia’s southern sea gates for the export and import of a broad spectrum of cargo (including oil, petroleum products, timber, grain, fertilizers, ferrous metals, containers, automobiles, and other products). OAO NCSP handled about 96% of the cargo at Novorossiysk port in 2007.
OAO NCSP includes the following stevedoring companies: OAO Novorossiysk Grain Terminal, OAO Novorossiysk Shipyard, OAO NCSP Fleet, OAO Novoroslesexport, OAO IPP, and OOO Baltic Stevedoring Company.

Source: Nross