OREANDA-NEWS. January 11, 2011. The Novosibirsk Regional Arbitration Court ordered Sibirtelecom to convene an extraordinary general shareholders meeting on March 4, 2011 in order to prematurely terminate the authority of members of the Board of Directors and elect its new lineup.

This decision was adopted pursuant to a lawsuit filed by Svyazinvest against Sibirtelecom and is subject to immediate execution.

The following resolution was issued at the court hearing:

1) To order Sibirtelecom to conduct an extraordinary general meeting of shareholders with the following agenda:

1. On the premature termination of the powers of members of the Board of Directors of Sibirtelecom.

2. On electing the members of the Board of Directors of Sibirtelecom.

2) To determine that the extraordinary general meeting of shareholders of Sibirtelecom shall be held in accordance with the procedure set forth in the current legislation and the in-house documents of Sibirtelecom, pending compliance with the following requirements for the procedure and deadline for the meeting:

- the date on which the extraordinary general meeting of shareholders of Sibirtelecom shall be held is March 4, 2011;

- the form of the extraordinary general meeting of shareholders of Sibirtelecom shall be an assembly (joint presence of shareholders to discuss agenda issues and adopt decisions on issues put to vote).

3) To assign the one-man executive body of Sibirtelecom to execute this court order, including the necessary decisions on issues related to preparing for the extraordinary general meeting of shareholders of Sibirtelecom:

- to convene an extraordinary general meeting of shareholders of Sibirtelecom;

- to approve the agenda of the extraordinary general meeting of shareholders of Sibirtelecom;

- to determine the place and time for conducting the extraordinary general meeting of shareholders of Sibirtelecom, and also the postal address to which ballot sheets may be sent;

- to determine the time for the beginning of the registration of persons attending the extraordinary general meeting of shareholders of Sibirtelecom;

- to determine the record date for persons eligible to attend the extraordinary general meeting of shareholders of Sibirtelecom as December 17, 2010;

- to determine the procedure for notifying shareholders that an the extraordinary general meeting of shareholders of Sibirtelecom is to be held;

- to determine the list of information (materials) which is to be provided to shareholders pursuant to the preparations for the extraordinary general meeting of shareholders of Sibirtelecom and the procedure for its presentation;

- to determine the form and wording of ballot sheets to be used at the extraordinary general meeting of shareholders of Sibirtelecom.