Election of the Chairman of the Board
2138007WMNVQAVLMP351
For immediate release 26 February 2018
Election of the Chairman of the Board
Global Ports Investments PLC ("Global Ports" or the "Company", together with its subsidiaries and joint ventures, the "Group" or the "Global Ports Group"; LSE ticker: GLPR) today announces that at a meeting on 26 February 2018, the Board of Directors of Global Ports elected Mr. Morten Engelstoft, APM Terminals CEO, as the new Chairman of the Board taking over from Mr. Peder Sondergaard who left the Board in January 2018.
Annex to the Announcement: Brief biography of the Chairman
Mr. Morten Engelstoft
Mr. Engelstoft has been CEO of APM Terminals since November 1, 2016. Prior to that he was CEO of APM Shipping Services since 2014. From 2007 until 2013, he was Chief Operating Officer of Maersk Line, where he was responsible for global operations, procurement, fleet, technical vessel management and the sustainability strategy.
He joined Maersk in 1986 and has three decades of experience in the container shipping industry. He held various senior executive positions at Maersk in Singapore, Italy, Taiwan, and Vietnam. Mr. Engelsoft is also Chairman of the Technical Innovation Board at A.P. Møller - Mærsk.
Mr. Engelstoft holds a Business Degree from Copenhagen Business School, a Shipping Degree from A.P. Møller - Mærsk Shipping School, and an Executive MBA from IMD in Switzerland.
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NOTES TO EDITORS
Global Ports Investments PLC is the leading operator of container terminals in the Russian market.
Global Ports' terminals are located in the Baltic and Far East Basins, key regions for foreign trade cargo flows. Global Ports operates five container terminals in Russia (Petrolesport, First Container Terminal, Ust-Luga Container Terminal[1] and Moby Dik[2] in the Russian Baltics, and Vostochnaya Stevedoring Company in the Russian Far East) and two container terminals in Finland[3] (Multi-Link Terminals in Helsinki and Kotka). Global Ports also owns inland container terminals Yanino Logistics Park[4] and Logistika-Terminal[5], both located in the vicinity of St. Petersburg, and has a 50% stake in the major oil products terminal Vopak E.O.S.[6] in Estonia.
Global Ports' Revenue for the first half of 2017 was USD 162.5 million and Adjusted EBITDA was USD 97.3 million*. Consolidated Marine Container Throughput was 587 thousand TEU in the first half of 2017.
Global Ports' major shareholders are Transportation Investments Holding Limited (operating under the brand name of N-Trans), one of the largest private transportation and infrastructure groups in Russia (30.75%), and APM Terminals B.V. (30.75%), whose core expertise is the design, construction, management and operation of ports, terminals and inland services. APM Terminals operates a global terminal network of 76 ports and 117 inland services facilities, giving the company a global presence in 59 countries. 20.5% of Global Ports shares are traded in the form of global depositary receipts listed on the Main Market of the London Stock Exchange (LSE ticker: GLPR).
For more information please see: www.globalports.com
LEGAL DISCLAIMER
Some of the information in these materials may contain projections or other forward-looking statements regarding future events or the future financial performance of Global Ports. You can identify forward looking statements by terms such as "expect", "believe", "anticipate", "estimate", "intend", "will", "could," "may" or "might" or the negative of such terms or other similar expressions. Global Ports wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Global Ports 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 Global Ports, including, among others, general political and economic conditions, the competitive environment, risks associated with operating in Russia and market change in the industries Global Ports operates in, as well as many other risks related to Global Ports and its operations.
[1] In which Eurogate currently has a 20% effective ownership interest.
[2] In which Container Finance currently has a 25% effective ownership interest.
[3] In each of which Container Finance currently has a 25% effective ownership interest.
[4] In which Container Finance currently has a 25% effective ownership interest.
[5] In August 2017 the Group signed an agreement to sell its 100% shares in LT. The transaction is subject to approval of relevant regulatory authorities.
[6] In which Royal Vopak currently has a 50% effective ownership interest.
This information is provided by RNS