OREANDA-NEWS. July 02, 2014. Rostelecom OJSC (MOEX: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces the results of its AGM, which was held on June 30, 2014.

The AGM approved Rostelecom’s Annual Report and its financial statements for the fiscal year ended December 31, 2013.

Based on Rostelecom’s 2013 results, the AGM approved that the Company’s profit should be distributed as follows:

The Company’s equity capital is to be increased by RUB 26.5 billion, or 75% of 2013 net profit according to Russian Accounting Standards (“RAS”).

A dividend amounting to RUB 8.824 billion, or 25% of 2013 RAS net profit, is to be paid, which equates to 37% of 2013 net profit in accordance with International Financial Reporting Standards (“IFRS”), including:

A dividend of RUB 4.848555414552 per Class A preferred share;

The dividend per ordinary share is calculated as follows: the total sum of RUB 8,824 mln, excluding the accrued dividends on the Class A preferred shares, divided by the amount of Rostelecom ordinary shares outstanding as at July 14, 2014 (excluding the treasury shares on Rostelecom’s balance sheet).

The shareholders approved July 14, 2014 as the record date for receiving dividends for 2013.

The shareholders also elected the following to Rostelecom’s Board of Directors:

Ruben Abelovich Aganbegyan;
David Benello;
Kirill Aleksandrovich Dmitriev;
Anton Andreevich Zlatopolsky;
Sergei Borisovich Kalugin;
Igor Ilyich Kozlov;
Mikhail Yuriyevich Lesin;
Anatoly Anatolyevich Milyukov;
Mikhail Igorevich Poluboyarinov;
Vadim Viktorovich Semenov;
Vitaly Yuriyevich Sergeichuk.
The AGM elected the following to the Audit Committee:
Valentina Fedorovna Veremyanina;
Vasily Vladimirovich Garshin;
Denis Rishievich Kant Mandal;
Anna Aleksandrovna Lerner;
Vyacheslav Evgenievich Ulupov;
Alexander Sergeevich Ponkin;
Alexander Viktorovich Shevchuk.

The AGM approved the agreement on liability insurance for the Company’s Board of Directors and executives.

KPMG was appointed as Rostelecom’s auditor for 2014.

In addition, shareholders approved new editions of the Company’s regulations on the General Shareholders’ Meeting and on the Board of Directors.