OREANDA-NEWS. July 23, 2007. A general annual meeting of shareholders of OJSC Urals Gas Networks (unit of GAZEX holding company, IES-Holding) was held on 28 June, 2007 with Chairman of the Board of Directors Denis Pasler reporting on the company's performance in 2006.

According to Denis Pasler, the main achievement of Urals Gas Networks in 2006 was accident-free uninterrupted gas supplies to consumers in over 1,000 settlements in the Sverdlovsk Region. OJSC Urals Gas Networks continued process automation in order to increase reliability and safety of the regional gas-distribution system's operations. In particular, over 100 gas distribution facilities in the region were equipped with telemetric systems. Modernization and upgrading of the gas-distribution systems were continued, and investments amounted to RUR 91 million.

In 2006, Urals Gas Networks received an ISO 9001:2000 international quality certificate with respect to operation of gas-distribution and gas-consumption systems, including in-house equipment.

Under the agenda item on profit and loss appropriation, the shareholders decided not to pay dividends and to allocate profits in the amount of RUR 0.9 million to offset past years outstanding losses. The shareholders also approved the annual report, the Company's Auditor and the Auditing Commission, and elected a new Board of Directors.