OREANDA-NEWS. On 08 May 2008 was announced, that on the 25th of April, the general meeting of the shareholders of "Oranta" Incorporated was held. In the meetings, in particular, the decision as to the change of status of 92 separate subdivisions (branches) of the company in 18 regional directorates was taken.

Let’s remind that in accordance with the strategic resolution of "Oranta" Incorporated, one of the priority tasks of the company are the optimization of the regional network through transfer of the separate subdivisions of the directorate to the branches without balance. The policy of the company is directed to the improvement of the regional network. It means that in the perspective those separate subdivisions of the directorate, which will gradually change its status and be considered as branches without balance, will remain the separate units in the branched regional system.

Besides, the shareholders of "Oranta" Incorporated approved the increase of the statutory capital on the sum UAH 95 366 700 through the increase in the amount of simple registered shares of the existing nominal value (by 16 302 000 items). Thus, in the very near future the statutory capital of the company will make up more than UAH 175 mln. The meetings approved the protocol about the decision as to closed (private) placement of shares.

The shareholders also approved the report of the Board of Directors of "Oranta" Incorporated about the results of financial and economical activity of the company and its subsidiaries during 2007 and the main directions of the activity for 2008. Hereby, the vice-chairman of the Board of Directors, Yuri Baranov, was recalled from the staff of the Board of Directors of "Oranta" Incorporated due to the letter of resignation. Two new vice-chairmen of the Board of Directors — Vyacheslav Grabyna (ex-director of the product development department of the corporate segment) and Sergiy Myroshnychenko (ex first adviser of the Chairman of the Board of Directors) — were elected to the staff of the Board of Directors of the company.