OREANDA-NEWS. July 06, 2011. On 30 June 2011, the Annual General Meeting (AGM) of Sovcomflot’s Shareholders approved the Company’s Financial Statements for 2010.

At the AGM, shareholders’ approval was received for the proposed distribution of profit arising from Sovcomflot’s 2010 results, including a dividend payment of RUB 1 billion.

The AGM also approved the election of Sovcomflot’s Board of Directors, comprising nine Directors and an Audit Committee consisting of three Directors.

The following Directors were elected to the Board:


 1. Mr. S.I. Kudryashov – Deputy Minister of Energy of the Russian Federation

 2. Mr. M.D. Manasov (Independent Director) – Member of the Board, Russian National Association of Securities Market Participants (NAUFOR)

 3. Mr. D. Moorhouse (Independent Director) – Chairman, Maritime London

 4. Mr. S.E. Naryshkin – (Chairman) - Chief of Staff of the Presidential Executive Office of the Russian Federation

 5. Mr. V.A. Olersky – Deputy Minister of Transport of the Russian Federation

 6. Mr. C. Ryan (Independent Director) – Chairman of UFG Asset Management

 7. Ms. E.B. Titova (Independent Director) – Managing Director and Head of Morgan Stanley in Russia

 8. Mr. N.P. Tokarev – President of Transneft

 9. Mr. S.O. Frank – President and CEO of Sovcomflot


 Ernst and Young were approved as Sovcomflot’s auditors for 2011.