OREANDA-NEWS. On 09 July 2009 Far East Telecom (РТС: ESPK, MICEX: DLSV, ADR USA: FEEOY, Frankfurt Stock Exchange and Berlin Stock Exchange: D7A), the largest telecommunications provider in Far East Federal Territory, announced results of the Annual General Shareholders Meeting held in Vladivostok.

The meeting was attended by shareholders and their representatives having in aggregate 77,160,324 votes, which is 80.7273% of the voting (ordinary) shares.

Subsequent to the voting results the following decisions were made:

1. Company Annual Report, Annual Financial Statements including Loss and Profit Report (loss and profit account) for fiscal year 2008 to be approved, Company profit 2008 to be distributed as follows:

for Company equity increase –1,304,542,021 Roubles;

for dividend payment on Company shares – 431,062,979 Roubles.

In accordance with the approved profit distribution procedure dividends for 2008 will be paid:

on preferred shares – 5.4772 Roubles. per share; 

on ordinary shares – 2.7238 Roubles. per share.

Dividend payment procedure for persons on the list of shareholders entitled to dividends to be determined as follows:

payment shall be made in accordance with dividend payment methods specified in registered person’s application form.

2. New Board of Directors to be approved with the following membership (11 members):

Kobishchanov Mikhail Yuryevich – macroeconomic issues advisor, CJSC FNDS (First National Development Corporation); 

Shevchuk Aleksandr Viktorovich – deputy CEO, Association for protection of investors rights; 

Yurchenko Evgeniy Valerievich – general director, OJSC Svyazinvest;

Vasilyeva Ekaterina Olegovna – director of corporate finance department OJSC CIT Finance; 

Feoktistova Natalia Vadimovna – office manager, of department of corporate management and legal support, OJSC Svyazinvest;

Afanasyev Denis Nikolaevich – office manager, department of RF Ministry of Communications and Mass Communications;

Leshchenko Mikhail Aleksandrovich – adviser, Ministry of Communications and Mass Communications; 

Umnova Elena Vladimirovna – deputy general director, OJSC Svyazinvest;

Kritskiy Mikhail Ivanovich – deputy general director, OJSC Svyazinvest;

Filippova Nadezhda Valentinovna – deputy general director, OJSC Svyazinvest;

Gurkin Vyacheslav Fedorovich – President of OJSC Imbera Investment Company.

3. Revision Commission to be elected with the membership as follows:

Koroleva Olga Grigorievna, chief accountant, OJSC Svyazinvest; 

Veremyanina Valentina Federovna, director, department of corporate management and legal support, OJSC Svyazinvest; 

Zubova Tatiana Yurievna, office manager, department of accounting, tax and statistic reporting, OJSC Svyazinvest;

Podosinov Sergey Vladimirovich, deputy head, internal audit administration, OJSC Svyazinvest;

Chernikova Tamara Alekseevna, deputy director, financial department, OJSC Svyazinvest.

4. CJSC KPMG to be approved as OJSC Far East Telecom auditor for 2009.

5. Standard allocations for calculating annual reward for Company new Board of Directors to be determined as follows:

0.39% of Company EBITDA as per IFRS accounting statements for 2009; 

0.78% of Company net profit allocated for dividend payment subsequent to 2009 results.

OJSC Far East Telecom annual general meeting of shareholders also approved restated Company Articles of Association and the Board of Directors Charter.