OREANDA-NEWS. September 12, 2008. The agenda of the Special General Meeting of Shareholders included two items: early termination of the former Board of Directors’ powers, and election of the new members of the Board of Directors of OAO Belon.

The total number of members of the Board remained unchanged (7 members). These include: A. P. Dobrov, the Director General of OAO Belon, V. N. Karmachyev, the Director General of OAO Elektron Production Assembly & Construction Plant, S. S. Zolotykh, the Deputy Chairman of the Board of Directors of OAO Belon for Kuzbass, V. V. Bastrygin, the Deputy Director of OAO Magnitogorsky Steel Mill for Corporate Strategy and Marketing for Raw Material Base Development, and independent directors Alan Cooper and David Waygood.

Nikolay Vladimirovich Lyadov, the current Commercial Director of OAO Magnitogorsky Steel Mill, was elected a new member of the Board of Directors of OAO Belon. Mr. Lyadov replaced exiting member of the Board V. A. Kutishchev.

The major task of the new Board of Directors will be the implementation of the approved strategy of the Company’s development till 2012. It is appropriate to recall that in accordance with the development strategy, the plan for the development of Belon Group aims at the significant increase in the coal output, which is expected to reach 14–15 mln tons by 2012; this will allow the Company to be listed among the top 5 coal production companies in Russia.