OREANDA-NEWS. On 30 June 2008 was announced, that ARMADA held an Annual General Meeting (AGM) on Tuesday, June 24, 2008.

The company’s shareholders approved the annual report and annual financial statements of ARMADA and resolved not to pay out dividends for 2007, channeling the retained earnings to business development.

One of the items on the AGM agenda was the election of the Board of Directors. In order to share responsibilities within this authority more efficiently, the number of seats in the Board was increased from five to seven. Dmitry Belik, Alexei Kuzovkin, Azer Badalov, Yuri Mostovoy and Sergei Lavrov kept their positions, while Maxim Selivanon (CEO of Soyuzinform) and Alexander Kutuzov (CEO of PM Expert) were determined as the new Board members. Both companies, Soyuzinform and PM Expert, are subsidiaries of the ARMADA Group.