Shareholders of PJSC OR Group (OR Group, formerly Obuv Rossii) at the annual meeting decided not to pay dividends for 2021 due to the lack of net profit last year. This is stated in the materials of the company.

„Due to the lack of net profit based on the results of 2021, no dividends on the placed shares of PJSC OR Group based on the results of 2021 should be paid (not declared),” the message says.

Shareholders also voted on candidates for the Board of Directors. Among them, 8 out of 9 members of the previous Board of Directors retained their seats: OR Group founder Anton Titov, independent directors Alexei Meshkov, Stanislav Zverev and Vyacheslav Shabaikin, Deputy Director for Legal Affairs Natalia Zherebtsova, Director for Capital Markets Kirill Streblyansky, Director of a production company in the OR Group Sergey Yung, as well as the financial director of LLC „OR” Sergey Usik.

Marko Lilic became a new member of the council. As Interfax was informed earlier by the press service of the OR Group, he was nominated as an independent director. Previously, the current member of the Board of Directors – IT Director of OR Group Dmitry Karpenko – voluntarily resigned as a member of the Board of Directors on March 22, 2022 (and his seat on the Board was empty until the current vote).

In 2021, the company received 4.212 billion rubles of net loss under IFRS against 562.8 million rubles of net profit in 2020. The group’s revenue fell by 32.2% to 8.2 billion rubles.

In January 2022, OR made the first default on the non-market bond issue BO-07, the main holder of which is Promsvyazbank. Until the end of March, the company fulfilled its obligations to pay coupon income, but in April it made a series of defaults on all traded bond issues.