OREANDA-NEWS. On 14 May 2008 was announced, that the lock-up period has expired with respect to the sale of shares by the selling shareholders of LSR Group, one of the leading real estate developers and building materials producers in Russia.

The 180-day lock-up period was specified in the underwriting agreement signed by the company’s selling shareholders in the course of the IPO implemented by LSR Group in November 2007.

However, a supplementary lock-up is still effective for the company in accordance with the voluntary decision taken by all those LSR managers holding an aggregate of 13.91% of the company’s share capital. The ban on sales of shares is a condition for the participation of the company’s senior managers holding LSR shares in the Long-Term Key Managers Motivation Programme, which has a 3-year period until December 31, 2010, [during which period participants in the programme may not sell shares].