OREANDA-NEWS. July 12, 2016. An Annual General Shareholders Meeting of ChelPipe Joint Stock Company was held recently.

The shareholders approved the annual report, annual financial statements, corporate charter and revised internal documents governing the corporate bodies; cancelled the Company Board regulation and corporate code of conduct. The new name of the company is established in the approved revision of the charter as required by the law: Chelyabinsk Pipe Plant Public Joint Stock Company (PAO ChelPipe). The shareholders also decided to allocate the Company's net profit recognized at the end of the reporting period for investment, operations and social development of the Company; the dividends will be neither declared, nor paid.

The shareholders approved transactions of interest, including large transactions, as well as those which may be closed in the course of ordinary business in future.

The Annual General Shareholders Meeting voted to elect Oleg Kiselev, Andrey Komarov, Oleg Kustikov, Dina Mikryukova, Oleg Seleznev, Alexander Fyodorov, Sergey Yankovsky members of the Board of Directors. Also, the shareholders elected Anna Borodayenko, Alexey Golovanov, Darya Fyodorova members of the Company's Audit Committee.

The shareholders voted to approve the Company’s participation in the Association of legal entities "Kazakhstan association of oil, gas and energy sector organizations "KAZENERGY".

The following firms were approved as independent auditors of the financial statements: Audit Firm Audit-Classic JSC for the Russian Accounting Principles, Deloitte & Touche CIS JSC for IFRS.