Last checked at 27 Oct 2008 07:00
For Immediate Release 27 October 2008
Independent Non-Executive Director purchase of Globaltrans GDRs
Globaltrans Investment PLC ("Globaltrans" or together with its consolidated subsidiaries the "Group"), Russia's largest privately owned freight rail operator announces today that Mr. Hans Durrer, Independent Non-Executive Director of Globaltrans, purchased 100,000 Globaltrans GDRs on October 24th, 2008, at a price of US$ 3.70 per GDR. Following this transaction, Mr. Durrer's total holding in the Group is 100,000 GDRs, equivalent to 100,000 shares, or 0.0855% of the Group's total shares outstanding.
Commenting on his purchase Mr. Durrer said: "I have every confidence in the future success of Globaltrans, and, in view of its strong market position and solid financial situation I see the current share price as significantly undervaluing its future potential".
ENQUIRIES
Globaltrans Investor Relations +357 25 503 153
Priit Pedaja
Mikhail Perestyuk
Citigate Dewe Rogerson +44 20 7638 9571
David Westover
Agnes Riousse
NOTES TO EDITORS
Globaltrans is Russia's largest privately owned freight rail operator by number of rolling stock operated. Globaltrans provides freight rail transport and logistics services to over 25,000 destinations covering every major industrial region in Russia and part of the Ukraine. Globaltrans' regional network encompasses 10 branch offices. Globaltrans' key customers are large industrial blue chip companies from the key sectors of the Russian economy.
Globaltrans is the only public company in the Russian railway sector. In May 2008, Globaltrans was listed on the London Stock Exchange (LSE) with a free-float of c. 30%. For more information on the company, please visit the website: www.globaltrans.com.
Dr. Hans Durrer was appointed as an Independent Non-executive member of the Board of Directors of Globaltrans in March 2008. Dr. Durrer has more than 30 years of management experience. Dr. Durrer graduated from the University of Zurich with a doctorate in Economics and is admitted to the Swiss Fiduciary Association. Dr. Durrer started his career in 1957 with the Union Bank of Switzerland in Geneva and became a financial analyst. Dr. Durrer founded his own company Fidura Treuhand AG in 1970, a company which provides book keeping, auditing, and financial services to real estate companies. Dr. Durrer was a former president of the oil company Montafan AG, and a former Board member of the transport company IMT-Dienst AG. He currently serves as an Executive Board member of several privately held companies.
LEGAL DISCLAIMER
Some of the information in this document may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as expect, believe, anticipate, estimate, intend, will, could, may or might and the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries in which Globaltrans operates, as well as many other risks specifically related to Globaltrans and its operations.