OREANDA-NEWS. Armada Group (MICEX-RTS: ARMD) hereby announces resolutions passed by the company’s board of directors at a meeting.

"The board of directors is not satisfied with the fact that the stock price does not reflect the company’s actual value. Despite the decision not to disburse dividends for FY12, the board of directors passed a resolution to instruct the company’s management within a month to submit proposals on ways and means to boost capitalization, including the possibility of a partial buyback, interim dividend, and other means," — Alexey Kuzovkin, chairman of Armada’s board of directors, said. The board of directors is expected to convene a meeting in the second half of June to review the proposed solutions.

The annual meeting of shareholders of Armada JSC is scheduled for June 26, 2013. The record date by which the list of holders of the issuer’s registered issued securities is compiled in order to ensure that rights arising from issued securities are respected, has been set at May 16, 2013.