OREANDA-NEWS. August 23, 2010. Far East Telecom (RTS: ESPK, МICEX: DLSV, OTC USA:  FEEOY, Frankfurt and Berlin stock exchanges: D7A) announces the decisions approved by the Company’s Board of Directors. 

The Board of Directors of Far East Telecom adopted the decision to convene an extraordinary general shareholders meeting in the form of absentee voting. The cutoff date for accepting ballot sheets is November 12, 2010, inclusive. Ballot sheets should be addressed to the Registrar of the Company at the following address: 10 Leninskaya Svoboda St., Business Center Omega Plaza Post Office Box 151, United Registration Company.

The record date for the list of persons eligible to participate in the shareholders meeting is as of September 23, 2010.

The agenda of the extraordinary general shareholders meeting is as follows:

On paying out 9M 2010 dividends;

On amending the Statute on the Board of Directors of the Company;

On the annual compensation payable to members of the Board of Directors of the Company which perform their duties after the annual general shareholders meeting held on June 28, 2010.

The Board of Directors issued a recommendation for the extraordinary general shareholders meeting to pay out 9M 2010 dividends in the following amounts:

- 0.0000003155810523 % of 9M10 net profit per one class A preferred share;

- 0.0000001579530498 % of 9M10 net profit per one common share.

Dividends are to be paid out pursuant to the procedure which corresponds with information on the way to receive dividends provided by registered persons based on data from the Company’s shareholders register as of September 23, 2010.

All in all, 25% of net profit will be disbursed as dividends, i.e. 10% on preferred shares and 15% on common shares.

9M10 interim dividends are to be paid out to shareholders within the deadline established by law, no later than 60 days from the date on which the relevant decision is adopted.