AFI Development PLC EMPLOYMENT CONTRACT WITH MR LEV LEVIEV (2452X)
26 April 2019 - 11:10AM
UK Regulatory
TIDMAFRB TIDMAFID
RNS Number : 2452X
AFI Development PLC
26 April 2019
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")
AFI DEVELOPMENT ENTERS INTO an employment contract with Mr Lev
leviev
London, 26 April 2019 - AFI Development today announces that it
has entered into an employment contract with Mr Lev Leviev.
Under the terms of the employment contract, Mr Lev Leviev will
be employed as a strategic adviser for the Company, effective from
1 May 2019. The role will involve responsibility for sourcing new
investment opportunities, leading strategic negotiations with key
potential investment partners and key lenders of the Company, and
providing advice and recommendations on strategic development for
the Company. Mr Leviev will not be a director of the Company.
The Company will pay Mr Leviev an annual remuneration of
US$960,000 and will provide a benefits package similar to that
provided to its senior managers.
Flotonic Limited is the controlling shareholder of the Company
with an interest in 64.88% of the issued share capital of AFI.
Flotonic Limited is controlled by Mr Lev Leviev who was also a
director of the Company until August 2018. Therefore, this
transaction falls within Listing Rule 11.1.10 R.
- ENDS -
For further information, please contact:
AFI Development, +7 495 796 9988
Ilya Kutnov, Corporate Affairs/Investments Director (Responsible
for arranging the release of this announcement)
Citigate Dewe Rogerson, London +44 20 7638 9571
Sandra Novakov
Lucy Eyles
This announcement contains inside information.
About AFI Development
Established in 2001, AFI Development is one of the leading real
estate development companies operating in Russia.
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 favorable return.
AFI Development is a leading force in urban regeneration,
breathing new life into city squares and neighborhoods 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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