The new investors are Mr. Pavel Grachev and Mr. Mikhail Stiskin, recognized Russian executive and investment professionals - will become pursuant to the agreement the largest shareholders of Gulf.
Altus would also like to announce that Gulf will re-submit its application to the Federal Antimonopoly Service of Russia to enable it to increase its stake and acquire up to 29.9% of the total number of shares in PJSC "Detsky mir", as was initially announced by Gulf.
The completion of the new investors' acceptance is expected to take place shortly, subject to satisfaction of certain legal conditions.
Dmitry Klenov, managing partner of Altus Capital commented:
"We are pleased to welcome new investors that see long-term value in "Detskiy Mir", share our views on the company and support the current management as well as the company's strategy, long term objectives and existing dividend policy"
Altus Capital is an independent investment firm focusing on primarily fast-growing companies. Altus Capital's investment strategy focuses on sector-wise diversification, visible exit strategy and high growth potential. Altus Capital is not limited to geographical restrictions but traditionally focuses on the Russian market. Altus Capital was founded in 2014 by two partners of UFG Wealth Management Ltd. – Oksana Kuchura and Dmitry Klenov.
Pavel Grachev since 2013 holds the position of Chief Executive Officer of the largest Russian gold producer Polyus. Prior to that Pavel in his professional career served as chief executive office of the leading potash producer Uralkali and then of the Far East and Baikal Region Development Fund,
Mikhail Stiskin since 2013 holds a position of Senior Vice President for Finance and Strategy of the largest Russian gold producer Polyus. Prior to that in his professional career Mikhail held position of a Managing director at Sberbank CIB (until 2011 known as Troika Dialog) responsible for research coverage of metals and mining sector.