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25.03.2013 Leadership of KORTROS GC addresses all the interested parties

Considering the current situation in Cyprus and the possible adoption of the law on imposing taxes on deposits and funds, placed in bank accounts in Cyprus, KORTROS GC considers it necessary to bring the following information to our counterparties and investors.

KORTROS GC is a development company, engaged in the construction of housing, commercial real estate and infrastructure projects in many regions, including Moscow and Moscow Oblast, St. Petersburg, Yekaterinburg, Yaroslavl and Yaroslavl Oblast, Chelyabinsk, Perm, Krasnodar, and Sochi. The projects are implemented based on project financing principles with the participation of Russian banks, which causes cash flows exclusively through the accounts of the creditor banks.

The entire cash flow of KORTROS GC, associated with its main activity, passes through the Russian Federation, and the situation in Cyprus cannot affect the financial position of the Company.

 




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