Non-Core Asset Sale Programme
In 2018, in accordance with the decision of the PAO Sovcomflot Board of Directors dated 31 January 2018 (Minutes No. 169 dated 5 February 2018) and based on the results of the analysis for compliance with the methodological guidelines for identifying and disposing of non-core assets approved by Russian Government Order No. 894-r dated 10 May 2017, a new version of the Programme on the Sale of PAO Sovcomflot Non-Core Assets was approved and the register of PAO Sovcomflot non-core assets, which also includes the non-core assets of its subsidiary PAO Novoship, was updated.
The Programme on the Sale of PAO Sovcomflot Non-Core Assets defines the main approaches, principles and procedures for identifying and disposing of non-core assets belonging to the Company.
The main objectives of the PAO Sovcomflot non-core asset disposal programme are to
- promote more efficient use of assets and maximise income (minimise losses) on the sale of the Company’s property;
- reduce financial costs associated with the maintenance and servicing of non-core assets;
- form additional sources of financing;
- improve the competitiveness and investment attractiveness of the Company;
- increase capitalisation.
|No.||Asset||Means for identifying a non-core asset||Activity using the non-core asset||Residual (net book) value of the non-core asset, RUB||Planned method of disposing of the non-core asset|
|Non-core assets of PAO Sovcomflot|
|1||0.3% interest in the National Reserve Bank (NRB)||State registration number: 101021170B||Banking||5,116,000||Sale, public electronic auction|
|2||2% interest in the St. Petersburg International Commodity Exchange||Registration number: 1-02-80100-N||Organisation of exchange trades||8,700,000||Sale, public electronic auction|
|Non-core assets of PAO Novoship|
|3||Recreation Centre Moryak||Sukhaya Shchel, Novorossiysk (cadastral number of the land plot: 23:47:0116009:8)||Health resort facilities (territory) in operation||134,472,625||Sale, tender|
|4||Territory located at 1st Railroad Loop St., Novorossiysk||1st Railroad Loop St., Novorossiysk (cadastral numbers of the land plots: 23:47:0109008:505; 23:47:0109008:506; 23:47:0109008:753; 23:47:0109008:168)||Production and warehousing facilities (territory) in operation||32,674,747.93||Sale, tender|
|5||Territory located at 120 Sukhumi Highway, Novorossiysk||120 Sukhumi Highway, Novorossiysk (cadastral number of the land plot: 23:47:0208016:7)||Administrative and production facilities (territory) in operation||9,477,718.03||Sale, tender|
PAO Sovcomflot and PAO Novoship did not make any disposals of non-core assets in 2018.