OREANDA-NEWS. July 03, 2012. JSC SITRONICS (SITRONICS or the Company) (LSE: SITR), the leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, today announces the decisions made by its Annual General Shareholders’ Meeting (“AGM”) on June 28, 2012.

The AGM approved SITRONICS’ annual report and annual accounting statements for 2011, including the profit and loss statement. The shareholders approved the recommendation of the Board of Directors not to pay an annual dividend for the twelve months ended December 31, 2011.

The AGM elected the members of SITRONICS’ Board of Directors as follows:

Sergey Aslanian

Svetlana Afanasieva

Sergey Boev

Gennady Krasnikov

Elena Myakotnikova

Andrey Ryabov

Igor Temirov

Sergey Tishchenko

Igor Zakharchenko

The shareholders elected the members of SITRONICS’ Audit Commission as follows:

Milena Ivanochkina

Dmitry Kudryashov

Vladimir Churkin

In addition, the shareholders approved the related party transactions, which may be implemented by SITRONICS in the future.

Paliy & Sons was appointed as the Company’s Russian Accounting Standards auditor for 2012.

At the statutory Board of Directors’ meeting following the AGM, the Board of Directors appointed Sergey Boev as Chairman.