The FFMS (the Federal Financial Markets Service of the Russian Federation) has registered the issue of and the prospectus for Series 02 bonds of OJSC LSR Group, one of the leading real estate developers and building materials producers in Russia (LSE: LSRG; MICEX, RTS: LSRG). The decision on placement of the bond was approved by the Board of LSR Group.

In accordance with the decision of the FFMS, LSR Group is authorised to issue interest-bearing non-convertible bearer Series 02 bonds to be placed by open subscription. A total of up to 5 million securities may be issued, with a nominal value per security of RUB 1,000, representing a total issue value of up to RUB 5 billion. Pre-emptive rights will not apply to the placement.

Commenting on the bond issue, Elena Tumanova, Chief Financial Officer and member of the Board of Directors LSR Group said:

“LSR Group has taken the decision to issue this bond in order to raise funds for implementing an extensive investment programme. We are not currently planning to place the bonds immediately but will consider making the issue when we judge market conditions to be most favourable.”