OREANDA-NEWS. Open Joint Stock Company “MegaFon” (LSE: MFON), a leading Russian universal telecommunications operator, (“MegaFon” or “the Company”) announces that on 30 June 2014 the Company's Board of Directors approved calling of the Extraordinary General Meeting of shareholders.

The Company's Board of Directors approved calling of the Extraordinary General Meeting (“EGM”) of shareholders in the form of absentee voting on 22 September 2014 with the following agenda for the EGM:

Approval of the Management Board Regulations of MegaFon OJSC (Version No.2);

Approval of related party transaction: the Novation agreement between MegaFon OJSC and MegaFon Investments (Cyprus) Limited;

Determination of the amount of remuneration and (or) compensation of expenses to the members of the Company's Board of Directors related to performance of their duties.

The relevant EGM Notice and materials, incl. voting ballots, shall be delivered by the Company no later than 22 August 2014.