OREANDA-NEWS.   KTK (MICEX: KBTK), one of the leading producers and exporters of thermal coal in Russia is pleased to announce the results of it's Board of Directors meeting held on March 11, 2014.

The annual general meeting of shareholders will take place at 14:00 Kemerovo time (GMT +7:00) on April 18, 2014 at conference room, 4, 50 Let Octyabrya street, Kemerovo.

The list of shareholders with rights to attend AGM will be closed on March 24, 2014. The Board of Directors approved the agenda of AGM, and also made a preliminary decision to approve and to introduce to shareholders the annual report and financial statements under RAS for 2013.

The Board of Directors recommended the AGM to approve the dividends for 2013 at the rate of RUB 5 for 1 common share of with nominal value of RUB 0.2 each, and to allocate 96.2% of the Company’s net profit under RAS for 2013 amounting to RUB 496,291,775. Dividends will be transferred to shareholders within 25 days from the date approvement by AGM. The Company's Share Register Book's closing date for the rights to receive dividends was scheduled on April 18, 2014. RUB 17,908,663.31 or 3.5% of net profit under RAS for 2013 will be allocated to the employees motivation fund.

The Board of Directors recommended the AGM to approve KPMG CJSC as an auditor for 2014 financial statements under the RAS and IFRS. The cost of services should be within RUB 8,240,000 excluding VAT.

The Agenda of the AGM approved by the Board of Directors:

Approving the annual report for 2013.
Approving the annual financial statements, including P&L report for 2013.
Approving the annual consolidated financial statements for 2013.
Approving net profit allocation including payment of dividends following the financial results of 2013.
Electing of the members of the Board of Directors.
Approving of the size of remuneration, paid to the members of the Board of Directors.
Electing of members of the Revisory commission.
Approving of the size of remuneration, paid to the members of the Revisory commission.
Approving of the Auditor.
Approving changes and additions to the Charter.
Changes and additions to AGM preparation regulations.