OREANDA-NEWS. December 1, 2008. National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, reports that a general meeting of NDC members, held 27 November, reviewed the Bank of Russia’s position regarding share distribution among future shareholders in a joint stock company formed on the basis of NDC.

Nikolay Egorov, NDC Director, said: “A proposed option involving maintenance of the current structure of votes in the general meeting was supported by the Board of Directors at its meeting held November 25 and today at a general meeting of NDC members.”

The NDC Director was authorized to prepare a proposal on the terms of NDC’s reorganization and a plan for events related to NDC’s reorganization for the 1Q 2009. These will then be considered by the Board of Directors and the general meeting of NDC members in December 2008.

The general meeting of the partnership members reviewed NDC’s financial results for January-September 2008 and termed them satisfactory. A report on implementation of NDC’s income and expenses budget and NDC’s capital investments budget for January-September 2008 was also reviewed.