OREANDA-NEWS. On June 29, 2007 Chelyabinsk Zinc Plant (LSE: CHZN, RTS: CHZN) has held its Annual General Shareholders’ Meeting. Participants in the AGM, including shareholders and their representatives, control  55,57% of Company’s voting shares, reported the press-centre of Chelyabinsk Zinc Plant.

On behalf of the Board, Vsevolod Geikhman, General Director of CZP, presented the annual report and CZP’s financials for the year ended 31 December 2006.

The AGM approved the annual report and the financial statements, including the Profit and Loss Statement for 2006. CZP shareholders approved, as an interested party transaction, the stipulation of D&O insurance policy and its price. The CZP shareholders also approved the remuneration to be paid to the members of the Board of Directors. The AGM approved the allocation of undistributed profit based on the results of the 2006 financial year to finance the priority projects established by the Board of Directors of CZP and voted in favor of not declaring and distributing dividends based on the results of the 2006 financial year. Shareholders also approved OOO Firma Audit-NAN and ZAO PricewaterhouseCoopers Audit as independent auditors of CZP for the year 2007.

Shareholders elected the Board of Directors and Internal Audit Commission of CZP. The following members were elected to the Board of Directors: Moiseyev Sergei Igorevich, Geikhman Vsevolod Vladimirovich, Fedorov Alexander Anatolievich, Shilov Alexei Valerievich, Christian Schaffalitzky de Muckadell, Johann Albrecht Adriaan (Hans) Bouman, Kazanbaev Leonid Alexandrovich. 

At the Board meeting held following the AGM, Sergei Moiseyev was re-elected as Chairman of the Board.

Commenting on the AGM results, Mr Moiseyev said: ‘Chelyabinsk Zinc Plant is committed to the top standards of corporate governance. CZP invited two international experts to join the Board as the independents. We are glad that Mr Schaffalitzky and Mr Bouman accepted the invitation and our shareholders supported their nominations. I am sure that their participation in the Company’s activities will provide CZP the opportunity to join the top companies in corporate governance’.

Biographies

Johann Albrecht Adriaan (Hans) Bouman From 1997 to 2002 he has served as Statutory Director at Euromin S. A. Prior to joining Euromin S. A. in 1997 he was an auditor at Vitol S.A. Earlier Mr. Bouman held positions of Finance Director at Wailing van Geest and Glenmore Heavy Lifting, and Finance Manager at Placid International Ltd. He graduated from Rotterdam University (The Netherlands) and holds MBA degree. Mr. Bouman was born in 1954.

Christian Schaffalitzky de Muckadell, BA (Mod), FIMMM, PGeo, CEng, is managing director and CEO of Eurasia Mining PLC. Mr. Schaffalitzky is graduate of Newtown school in Waterford and Trinity college, Dublin. He was born in 1953.