OREANDA-NEWS. March 07, 2012. PJSC “Novorossiysk Commercial Sea Port” completed the conversion of treasury stock into depository receipts

NCSP Group (LSE: NCSP; MICEX: NMTP) reports that PJSC “NCSP” completed the conversion of 2.68% treasury shares into depositary receipts.

The conversion took place within the framework of the registered program of Global Depository Receipts (GDRs) following the decision of the Board of Directors of PJSC “NCSP” dated 17.02.2012

About NCSP Group

Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3rd operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's MICEX exchange (NMTP) and on the London Stock Exchange in the form of GDRs (NCSP).

50.1% shares of PJSC "NCSP" belongs to Novoport Holding Ltd, beneficiaries owners of which are JSC “Transneft” and Ziyavudin Magomedov (Summa Group). NCSP Group consolidated cargo turnover in 2011 totaled 157 million tons. Consolidated revenue according to IFRS for the nine months of 2011 totaled USD 782 million and EBITDA of USD 404 million. NCSP Group combines the following stevedore companies: OJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.