Additional Disclosure Following the 9 December 2008 Investor Conference Call
15.12.2008
Following the announcement of the acquisition of Spacecom AS and Intopex Trans AS, Globaltrans Investment PLC (“Globaltrans” or together with its consolidated subsidiaries the “Group”), Russia’s largest privately owned freight rail operator is disclosing additional information regarding the status of its 2008 CAPEX program and the maturity profile of the aggregated debt of the two acquired companies.
Status of Globaltrans’ 2008 CAPEX program[1]
Between 1 January and 1 December 2008 Globaltrans purchased 2,300 railcars, of which 89% have been delivered to date, with the remainder being paid and awaiting delivery.
As of 1 December 2008, CAPEX invested into railcar fleet expansion in 2008 amounted to c.US$174 million.
Based on the current plans, the acquisition of Spacecom AS and Intopex Trans AS fulfils Globaltrans’ outstanding CAPEX plans for 2008 and 2009.
Breakdown of aggregated debt of Spacecom AS and Intopex Trans AS[2]
The aggregated debt of Spacecom AS and Intopex Trans AS as of 30 September 2008 amounted to US$84.1 million and had the following maturity profile:
- 8% of the aggregated debt is to be repaid in Q4 2008;
- 37% is to be repaid within 2009;
- 24% is to be repaid within 2010;
- 31% matures after 2010.
The announcement of Globaltrans’ acquisition of Spacecom AS and Intopex Trans AS, together with the supplementary slide presentation and archived webcast of the 9 December 2008 investor conference call are available via the Globaltrans corporate website (www.globaltrans.com).
Notes
[1]Unaudited, derived from Globaltrans’ management accounts.
[2] Unaudited, derived from Spacecom AS and Intopex Trans AS management accounts.
ENQURIES
Globaltrans Investor Relations
Priit Pedaja
Mikhail Perestyuk
+357 25 503 153
Citigate Dewe Rogerson
David Westover
Agnes Riousse
+44 20 7638 9571
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.