OREANDA-NEWS. December 3, 2010. An extraordinary general meeting of shareholders was held at Far East Telecom in the form of absentee voting.

The company’s shareholders reviewed the following issues:

On payment of dividends based on the results of the first nine months of the 2010 fiscal year.

On making amendments to Regulations on the Board of Directors of Far East Telecom.

On annual remuneration payable to members of the Board of Directors of Far East Telecom, which have performed their duties since the annual general meeting of shareholders on June 28, 2010. 

As for agenda item No. 1 on paying out dividend, shareholders owning 64,937,856 voting (common) shares took part in the voting.  Shareholders owning 616,252 common shares did not take part in the voting.  All in all, 99.7481% of shareholders that took part in the voting cast favorable votes on the above issue.

A resolution was passed to pay dividends on the results of the first nine months of the 2010 fiscal year as follows:

-         0.0000003155810523% of the Company’s net profit in the first nine months of the 2010 fiscal year per one preferred share;

-         0.0000001579530498% of the Company’s net profit in the first nine months of the 2010 fiscal year per one common share;

-         using the procedure which corresponds to information on the ways for receiving dividends disbursed to registered parties based on data from the shareholders register of the Company as of September 23, 2010.

On agenda item # 2 on making amendments to the Regulations of the Board of Directors of the Company and agenda item # 4 on the annual remuneration payable to members of the Board of Directors of the Company, which have performed their duties since the annual general meeting of shareholders on June 28, 2010, no resolutions were passed.

The Company’s net profit for the first nine months of 2010 amounted to RUR 2,172 mln.  Thus, the amounts of dividends payable were as follows:

RUR 3.3220 per one common share;

RUR 6.8570 per a preferred share. 

All in all, the Company will allocate RUR 480,808,101 to dividends for the first nine months of 2010.  No dividends accrued on shares listed on the Company’s balance sheet.  Dividends will be paid out by January 12, 2011.