2010-06-22

ANNUAL GENERAL MEETING OF RUSSIAN REAL ESTATE INVESTMENT COMPANY AB

At the annual general meeting of Russian Real Estate Investment Company AB (publ) on 22 June 2010, the income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet were adopted and it was resolved in accordance with the proposal of the board of directors that the year's result should be carried forward.

The annual general meeting discharged the members of the board of directors and the chief executive officer from personal liability for the financial year and sanctioned the board's proposal that fees to the board of directors of a sum of SEK 600,000 should be paid, and that the remuneration to the auditors should be paid according to approved invoicing rates.

The general meeting resolved that the board shall consist of five members and resolved to re-elect board members Jens Engwall, Tom Dinkelspiel and Nils Nilsson, and elect Sten Olsson (Chairman) and Mikael Stöhr as new members. Harald Kjessler and Anders Sjunnesson had declined re-election. The member Tom Dinkelspiel thanked Harald and Anders for their good work, especially during the past year

The general meeting also resolved to mandate the Board of Directors to issue new shares, with or without pre-emption rights, amounting to maximum of 10,000,000 shares, as per the Board's proposal.

In his presentation, the CEO, Craig Anderson, said that 2009 was a year characterized by defending the company's assets. Craig also noted that the market for property transactions should start to gain strength in 2010.  

Russian Real Estate Investment Company AB (publ)

For additional information
Craig Anderson, CEO
Phone                 +7 812 703 35 50                          (St. Petersburg)
phone                 +46 8 509 00 100                          (Stockholm)
email                   craig@ruric.com
web                     www.ruric.com

ABOUT RURIC
Ruric's business strategy is to manage real estate in the centre of St Petersburg. In addition Ruric shall also acquire real estate and implement value creating additional investments at attractive conditions. Through professional management and good tenant relations spaces of high class are offered to tenants looking for possible spaces in central locations willing to pay for it. Ruric offers primarily office- and retail premises.

Ruric's Certified Advisor at First North is Erik Penser Bankaktiebolag.

Press release
http://hugin.info/141656/R/1426218/374201.pdf