OREANDA-NEWS. March 23, 2011. CenterTelecom OJSC reports that it has held an extraordinary meeting of its shareholders (EGM). In accordance with the meeting's agenda the shareholders amended the Regulations on the Board of Directors and considered an issue of remuneration of the members of the Board of Directors.

The EGM approved the new norms (rates) setting the scale of annual remuneration for members of the company's new Board of Directors. The norms amounted to 0.41% of the company's OIBDA (in compliance with the company's RAS financial statements for 2010).

CenterTelecom OJSC is the leading fixed-line operator providing a full range of telecommunications services in the Central Federal District where more than 20% of the Russian population live. CenterTelecom provides all types of telecommunications services including local and inter-zonal telephony, high speed Internet access based on xDSL technology, data transmission, wireline and wireless radio broadcasting, cable TV, and also renders interconnection and traffic transfer services to other telecommunications operators. CenterTelecom’s quality management system corresponds with GOST R ISO 9001:2001 state standard and ISO 9001:2000 international standard. The company is actively developing up-to-date broadband multiservice and subscriber access networks on the basis of the latest telecommunications technologies.

CenterTelecom jointly with other Svyazinvest's inter-regional companies and Dagsvyazinform takes part in a process of a merger with Rostelecom and formation on basis of the latter of a national telecommunications company, a leader in core segments of Russian market. Formation of the integrated Rostelecom, a successor of all companies participating in the merger, is to be completed in spring 2011.