Moscow, Russian Federation – Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces the decisions made at the Annual General Meeting (AGM) of the Company’s shareholders on June 27, 2008.
The following resolutions were adopted at the Meeting:
- To approve the Company’s Annual Review and annual accounting statements in accordance with the Russian Accounting Standards.
- To pay annual dividends of RUR 14.84 per ordinary MTS share (approximately $3.12 per ADR) for the fiscal year 2007, amounting to a total of RUR 29.58 billion ($1,242.9 million). Dividends will be paid out before the end of 2008.
- To elect the following persons to the MTS Board of Directors (BoD):
- Mr. Anton Abugov, First Vice-President, Head of Strategy and Development Group, Sistema;
- Mr. Alexey Buyanov, Senior Vice-President, Head of Financial Group, Sistema;
- Mr. Mohanbir Singh Gyani, independent candidate;
- Ms. Tatiana Evtushenkova, Advisor to the President of MTS;
- Mr. Leonid Melamed, President and CEO of Sistema; and
- Mr. Paul Ostling, independent candidate.
- Mr. Vitaliy Savelyev, First Vice President of Sistema, Head of Telecommunications Asset Management Group.
- To set the number of the BoD members to 9 people.
- To elect members of the Auditing Commission.
- To approve CJSC Deloitte and Touche CIS as MTS’ auditor.
- To approve a restated version of MTS’ Statute on Remunerations and Compensations to Members of MTS Board of Directors.
- To merge subsidiaries “Mobilnye Sistemy Svyazi” (Omsk) and “Bashcell”, as MTS holds 100% stakes on both companies.
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