OREANDA-NEWS. Southern Telecommunications Company (“UTK”) [(RTS: KUBN, KUBNP; МICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the principal fixed-line telecommunications provider for Russia’s Southern Federal District reports that the Board of Directors of the Company approved the agenda of the Annual General Shareholders' Meeting to be held on June 26, 2009 (Minutes № 25), reported the press-centre of Southern Telecommunications Company.
 
The Board of Directors of Southern Telecommunications Company took a decision to include the following issues in the agenda of the Annual General Shareholders' Meeting:
 
1.      Approval of annual report, annual financial statements including profit and loss statement (profit and loss accounts) and distribution of profits (including dividend payment) and losses on the basis of the reported fiscal year 2008 financial results.
2.      Election of the members to the Board of Directors of the Company.
3.      Election of the members to the Auditing Commission of the Company.
4.      Appointment of the Company’s Auditor for the year 2009.
5.      Determination of the size of annual remuneration to be paid to the members of the Board of Directors of the Company.
6.      Introduction of amendments and additions to the Charter of "Southern Telecommunications Company" PJSC.
7.      Introduction of amendments and additions to the Statute on the Board of Directors of "Southern Telecommunications Company" PJSC.
 
The Board of Directors of "UTK" PJSC recommended to the Annual General Shareholders' Meeting:
 
1. To distribute the Company’s profit on the basis of the reported fiscal year 2008 financial results as follows:
139,259 thousand rubles to pay dividends, including:
0. 0573 rubles on one preference share of Class A;
0. 028223 rubles on one ordinary share;
417,768 thousand rubles to increase the Company’s own capital.          

2. To take a decision on dividend payment in money terms using the dividend payment instrument as specified in the Form of a registered person. The list of those entitled to a dividend has been made up according to the Register of the shareholders of the Company as of 7th May 2009.