OREANDA-NEWS. July 6, 2011. Svyazinvest held its annual general meeting (AGM) of shareholders on June 30, 2011 in Moscow. Shareholders approved the annual accounting reports and elected the new composition of the Board of Directors of the Company.

During the AGM, shareholders approved the annual financial statement and the annual accounting reports, including the income statement (profit and loss accounts) of the Company.

Shareholders passed a resolution to distribute the Company’s net profit which was generated from current activity based on the results of the 2010 fiscal year, as follows:

to pay out dividends – RUR 669,455,677 (25% of net profit from current activity);

to raise equity capital – RUR 2,008,367,031 (75% of net profit from current activity);

As a result, dividends for the 2010 fiscal year amount to RUR 0.03429880678 per one common share.  The decision was adopted to pay out dividends in cash form by wiring funds to shareholders’ accounts within 60 days from the date on which the resolution was passed to pay out dividends.

The Company’s general shareholders meeting also adopted the decision to pay remuneration for work performed by members of the Board of Directors that are not state employees.

During the AGM shareholders elected the new composition of the Board of Directors.  As a result of the voting, the new members of the Board of Directors were as follows:

Mikhail R. Butrin – Managing director, co-director of the global markets investment banking department, VTB Capital; 

Mikhail M. Zadornov – President and chairman of the management board of VTB 24;

Yury A. Kudimov – General director of Vnesheconombank (VEB Capital);

Sergey A. Lukash – Vice-president and head of the Urals macro-regional branch of Rostelecom;

Marlen J. Manasov;

Alexander N. Pertsotvsky – Chairman of the management board in Russia of Renaissance Capital;

Alexander Yu. Provotorov – President of Rostelecom;

Ivan I. Rodionov – Professor of state university Higher School of Economics;

Vadim V. Semenov – General director of Svyazinvest. 

The following members were elected to the Company’s Audit Committee:

Svetlana V. Vasina – Deputy director of a department of the RF Telecommunications Ministry;

Evgeny V. Gavrilin – Deputy head of the State Property Management Agency;

Alexey A. Galkin – Consultant of a division of the Economic Development Ministry;

Alexander V. Narukavnikov – department head of the RF Telecommunications Ministry;

Viktoria G. Chernousova – division advisor of a department of the State Property Management Agency. 

Other issues were also included in the agenda which are mandatory for inclusion in the annual general meeting of shareholders.