Tatfondbank Held AGM
OREANDA-NEWS. June 5, 2012. The Annual General Meeting of Shareholders that considered the results of 2011 and a meeting of the Board of Directors of AIKB Tatfondbank were held on 23 May.
The Annual Meeting represented 95% of the total number of the Bank’s outstanding voting shares. The recommendations approved by the Board of Directors while preparing the Annual Meeting were fully and unanimously supported by the attendant shareholders and their representatives.
Having heard the reports made by N.S. Tagirova, First Deputy Chairman of the Board of Management, on the results of the financial year, A.L. Zhuravlev, Chairman of the Audit Commission, and G.S. Timokhin, head of the Bank’s auditor, on the outcomes of checking the financial and economic activity and reliability of financial statements, the Meeting approved the Bank’s Annual Report and the annual accounting statements for 2011.
The Meeting decided to allocate to the Bank’s Reserve Fund over RUR 315 million, including 73.7% of profit for 2011 (some RUR 150 million) and the entire undistributed profit of the past periods (over RUR 165 million). The amount allocated for charitable and sponsor aid totalled RUR 48.2 million (23.7% of the profit), and the amount of remuneration paid to members of the Board of Directors totalled RUR 5.3 million (2.6% of the profit). A decision was made not to pay dividends on the Bank’s shares for 2011.
The Meeting elected the new Board of Directors, the Audit and the Counting Commissions of the Bank. The Board of Directors was elected to consist of 9 members and included all nominees proposed by the Bank’s shareholders with 8 members representing the previous composition. The compositions of the Audit and the Counting Commissions remained unchanged.
The Meeting approved as the Bank’s auditors to conduct audit of its statements for 2012 financial year: LLC Bankovsky Audit, for audit under Russian Accounting Standards, and ZAO Ernst and Young, for audit under International Financial Reporting Standards.
The Meeting introduced amendments to the Charter and certain internal documents of the Bank and approved related-party transactions in accordance with Chapter XI of the Federal Law ‘On Joint Stock Companies’.
The meeting of the Board of Directors re-elected Ildus Mingazetdinov as its Chairman.
Three Committees were established within the new composition of the Board of Directors: for strategy, for audit and risks, and for personnel and remuneration. The meeting elected members of these committees and approved independent directors as their chairmen.
The meeting approved the plan of meetings of the Board of Directors for the period of its authorities covering 2012-2013.
The meeting made decisions on approval of certain Bank’s transactions, on provision of sponsor aid for the support of sports in the