OREANDA-NEWS. A regular meeting of the Board of Directors of Power Machines chaired by Sergei Batekhin, Deputy Director General of Interros, was held on November 23, 2006.

According to the press service of Power Machines, the Board of Directors of Power Machines voted unanimously to execute additional stock issue to meet investment requirements of the company. Approval of the additional stock issue parameters will be considered at one of the nearest meetings of the Board of Directors.

OJSC “Power Machines” will remain a public and liquid company and will direct the efforts to strengthen their positions on the Russian stock market and to promote corporate management level by information disclosure and by management activities with investors and minority shareholders.

The Board of Directors of Power Machines has also made a decision to call for a special General Meeting of Shareholders on 22 February 2007, the agenda of which will include issues of election of Board of Directors and Auditing committee of the Company, as well as approval of a new edition of Corporate Governance Code and internal documents, regulating activities of the Company's bodies.