OREANDA-NEWS. July 01, 2010. The annual general meeting of shareholders of Sibirtelecom OJSC, the biggest telecommunication operator in Siberian Federal District, took place in Barnaul.

The shareholders of Sibirtelecom OJSC made a decision on reorganization of the Company in the form of merger with Rostelecom OJSC.  Thus, the shareholders of Sibirtelecom OJSC initiated the next important stage of reorganization of Svyazinvest Group of Companies, which is the conduct of annual general meetings of shareholders of Interregional Telecommunication Companies (ITC) and Rostelecom OJSC, where the key agenda item is the question of merger of ITS with Rostelecom OJSC.  

It is expected that as a result of the reorganization of Svyazinvest Group of Companies, a single universal operator will provide a full range of modern telecommunication services in the national scale instead of eight operators that provided the main telecommunication services to the population, state authorities and enterprises only within their licensed territories. The services include traditional ones, such as local, long-distance national and international telephony, and new services, such as data transmission, wireless communication, and broadband Internet access.

The shareholders that possess in total 59.78% of the voting (ordinary and preferred) shares participated in taking a decision on reorganization. 

All the other questions were solved by the shareholders that have in total 71.06% of the voting (ordinary) shares. 

The annual general meeting of shareholders approved the submitted annual report, the annual financial statements, including the profit and loss statement (profit and loss account) of the Company, distribution of profit (including the payment of dividends) and losses of the Company by the results of the reporting financial year 2009.     In accordance with the decision, Sibirtelecom OJSC   will assign 582,090,337 rubles for the payment of dividends, including 0.0589249   rubles per one preferred share and 0.0292878 rubles per one ordinary share.    1,763,156,789 rubles will be allocated for the increase of the Company’s own capital.  

A new Board of Directors was chosen that includes:

1.      Bogdan Ivanovich Golubitsky;

2.      Alexander Vladimirovich Kachurin;

3.      Gennady Georgiyevich Kudryavtsev;

4.      Alexey Alexeyevich Lokotkov;

5.      Igor Borisovich Pshenichnikov;

6.      Igor Nikolayevich Repin;

7.      Vladimir Anatolyevich Statyin;

8.      Elena Vladimirovna Umnova;

9.      Nadezhda Valentinovna Filippova;

10.  Alexander Viktorovich Shevchuk;

11.  Yevgeny Valeryevich Yurchenko.

The Auditing Commission of Sibirtelecom OJSC was chosen. It consists of 5 members:

1.      Vitaly Vyacheslavovich Bekin;

2.      Alexey Vadimovich Kravchenko;

3.      Olga Grigoryevna Korolyova;

4.      Pavel Evgenyevich Puchkov;

5.      Natalia Petrovna Utina.

The meeting of shareholders approved the new version of the Articles of Association and the Regulation on the Board of Directors of Sibirtelecom OJSC.

Ernst & Young LLC was approved to be the external auditor of the Company for 2010.

Some rates (percentage) of assignments for the calculation of annual remuneration to members of the Board of Directors of Sibirtelecom OJSC that are elected at the annual general meeting of shareholders were approved. They made up 0.26% of EBITDA of the Company based on financial statements according to IFRS for 2010; 0.78% of the amount of Company’s net profit used to pay dividends in accordance with the results of 2010.

The meeting of shareholders made a decision on remuneration to members of the Board of Directors of Sibirtelecom OJSC by results of the work in 2009 and determined the rate and the order of remuneration payment by results of the work in 2009. 

All materials for the annual general meeting of Sibirtelecom shareholders of June 5, 2010 are available in the section “For Investors and Shareholders” at the corporate site of the Company. Official data will be announced after the minutes of the meeting are drawn up in accordance with Art. 63 of the Federal Law “On Joint-Stock Companies”.