Rostelecom Announces Results of AGM
OREANDA-NEWS. June 20, 2012. Rostelecom OJSC (MICEX - RTS: RTKM, RTKMP; OTCQX: ROSYY), Russia’s national telecommunications operator, today announces that the following resolutions were passed at the Company’s Annual General Meeting of shareholders (“the AGM”) on June 14, 2012.
The AGM approved Rostelecom’s Annual Report and its financial statements for the fiscal year ended December 31, 2011.
Based on Rostelecom’s full year 2011 results, the AGM approved that the Company’s profit should be distributed as follows:
1. The Company’s equity capital is to be increased by RUB 17,599.481 million, or 54.05% of 2011 net profit according to Russian Accounting Standards (“RAS”)
• a 2011 cash dividend of RUB 4.6959 per share on the Company’s Class A preferred shares, which represents 3.5% of 2011 net profit under RAS or 2.48% of 2011 net profit under IFRS on all Class A preferred shares
• a 2011 cash dividend of RUB 4.6959 per share on the Company’s ordinary shares, which is equivalent to 42.45% of 2011 net profit under RAS or 30% of 2011 net profit under IFRS on all ordinary shares.
The shareholders have elected the following members of Rostelecom’s Board of Directors:
1. Sergei Azatyan – Managing Director of the Moscow Representative Office of MarCap Advisors Limited LLC;
2. Vladimir Bondarik – General Director of Giprosvyaz;
3. Anton Zlatopolsky – General Director of “Rossiya” TV channel;
4. Anton Inshutin – Managing Partner of InVenture Partners;
5. Yury Kudimov – General Director of VEB Capital;
6. Sergey Kuznetsov – Member of the National Register of Independent Directors of the Russian
7. Mikhail Leschenko – Deputy General Director of Svyazinvest;
8. Anatoly Milyukov – Executive Vice President of Gazprombank;
9. Alexander Provotorov – President of Rostelecom;
10. Ivan Rodionov – Professor of State University ‘Higher School of Economics’, Professor of Russian State University for the Humanities;
11. Vadim Semenov – General Director of Svyazinvest.
At the first Board of Directors meeting, which also took place on June 14th, Ivan Rodionov was appointed Chairman of the Board of Directors.
The shareholders also approved remuneration for the Board members not employed by the Government.
In addition, new editions of Rostelecom’s Charter, the bylaws for the Board of Directors and the Provisions for the Company’s Audit Commission were approved at the AGM.
ZAO KPMG was appointed as Rostelecom’s auditor for 2012.