Interros Calls for Extraordinary General Meeting at Polyus Gold
OREANDA-NEWS. On January 17, 2007 Interros sent to OJSC Polyus Gold a demand to call an extraordinary general meeting. The agenda provides for improvement of corporate governance and decision-making system at Polyus Gold, amendments to the company’s Charter, as well as the re-election of the Board of Directors (BoD), reported the press-centre of Interros.
The changes proposed by Interros aim at creation of up-to-date corporate governance system at Polyus Gold, so that they match the status of a big international public company. According to Interros, the current company structure and the decision-making system do not secure shareholders and their representatives with due rights, which enable them to take part in the management process.
According to Sergey Batekhin, who sits on Polyus Gold BoD, last year Interros initiated steps to reform Polyus Gold corporate structure, which, as a matter of fact, were ignored when Evgeniy Ivanov again returned to the office of CEO. The call to convene an extraordinary general meeting was prompted by attempts of the new managers of Polyus Gold to carve out a significant portion of assets of the company, thus actually ignoring the opinion of the bulk of shareholders.
Interros company deems necessary to amend the Charter in order to secure interests of all shareholders through their representatives in the BoD, when dealing with Polyus Gold assets and shares of the affiliated companies of the Group. Moreover, Interros intends to increase the number of independent directors in the BoD, as well as to propose some measures to streamline the preparation and holding of the BoD meetings.
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