OREANDA-NEWS. On May 16, 2007 the Board of Directors of KAMAZ Inc. held its regular meeting in Moscow. There was considered a range of issues concerning the Company’s current activity and preparation for the annual general shareholders meeting of KAMAZ Inc, reported the press-centre of KAMAZ.
In regard to the current activity, the information about execution of the 2007 business-plan by the organizations of KAMAZ Inc. during 3 months was taken into consideration.
There was approved the annual accounting of KAMAZ Inc. and the KAMAZ group of organizations for 2006. It will be introduced at the annual general shareholders meeting of KAMAZ Inc., which will take place on 26 June 2007 in Naberezhnye Chelny. There was also approved the annual consolidated accounting of the KAMAZ group of organizations for 2006.
Upon the results of 2006 the profit of KAMAZ Inc. made up 721 million roubles. The Board of Directors considered it necessary to direct 5% of the profit for the reserve, the rest part is left to pay off damages. It was decided not to pay share dividends for 2006. These decisions are made for the purpose of better accounting of KAMAZ Inc., preparation for additional emission of KAMAZ shares and their stock exchange placement planned for 2008.
There was considered the agenda of the annual general shareholders meeting of KAMAZ Inc., which will be convened on 26 June 2007.