On 29 June 2009, an ordinary Annual Meeting of Shareholders of OJSC LSR Group was held and a meeting of the newly elected Board of Directors.   

The AGM agenda included approval of the annual report of OJSC LSR Group for 2008, determination of the number of members and election to the Board of Directors, election of members to the Check-up Committee, approval of the revised Charter and reevised internal regulations of the management bodies of the Company, approval of the Company’s auditors for 2009 and approval of related party transactions.

The Shareholders Meeting by a majority of votes approved the annual report of OJSC LSR Group for 2008 and its financial statements for 2008 based on Russian Accounting Standards, and also elected a new Board of Directors of seven members including two independent directors:

1. Dmitri Goncharov, Director, LSR Europe GmbH (a subsidiary of LSR Group).

2. Igor Levit, Chief Executive Officer of LSR Group.

3. Mikhail Romanov, Managing Director of LSR Group.

4. Elena Tumanova, Chief Financial Officer of LSR Group.

5. Igor Kamenetsky, Strategic Planning Director of LSR Group.

6. Sergey Skaterschikov, Independent Director, Chairman of the Board of Directors of Skate Capital, member of boards of directors of OJSC OMZ, Independence Holdings and a number of other companies.

7. Ilgiz Valitov, Independent Director, Director of Regional Development Department, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank), member of boards of directors of a number of other companies.

The Meeting fully re-elected the Check-up Committee of OJSC LSR Group.

The Meeting approved CJSC KPMG as auditor of the Company’s IFRS-based consolidated statements for 2009, and CJSC Audit-Servis as auditor of financial statements based on the Russian Accounting Standards.

The Meeting approved the revised Charter and revised internal regulations of the Company’s management bodies.

Pursuant to the earlier adopted dividend policy of the Company, its shareholders approved the decision not to declare any dividends on Company shares for 2008 financial year.

The Shareholders Meeting approved a number of transactions related to the opening of credit facilities with State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) and Rosselkhozbank (Open Joint Stock Company Russian Agricultural Bank). 

The newly elected Board of Directors of LSR Group re-elected Dmitri Goncharov as Chairman of the Board for a new term and also the members of Board committees as follows:

Audit Committee:

- Sergey Skaterschikov – Chairman of the Committee;

- Elena Tumanova;

- Mikhail Romanov.

Human Resources and Compensations Committee:

- Sergey Skaterschikov – Chairman of the Committee;

- Dmitri Goncharov;

- Elena Tumanova.

Strategy and Investments Committee:

- Igor Kamenetsky – Chairman of the Committee;

- Igor Levit;

- Sergey Skaterschikov.

Note to Editors:

Valitov, Ilgiz Nailevich, year of birth 1964

Educational Background:

Higher education, Kazan Institute of Finance and Economics.

Work Experience:

2002–2007  General Manager, OJSC VTB Bank, Tatarian Branch in Kazan

2003–2006  Member of the Board of Directors, OJSC Kamaz

2007–2007  Vice President and Managing Director, OJSC VTB Bank

2007–present Director, Regional Development Department, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank

2008–present Member of the Board of Directors, OJSC Kaluga Region Development Corporation

2009– present  Member of the Board of Directors, OOO VEB-Invest

2009– present Member of the Supervisory Board, Moscow Open Joint Stock Company Slave (Moscow 2nd Watch Factory)

2009–present  Member of the Board of Directors, OJSC 31 Novinsky Boulevard

Kamenetsky, Igor Albertovich, year of birth 1971

Educational Background:

Higher education, 1993, St. Petersburg State University, 1994, London Summer School of Economics. 1996, Postgraduate Course, Department of Economics, St. Petersburg State University. 2004-2005, Marketing Management Retraining Course, Management Department, St. Petersburg State University. Candidate of Economics.

Work Experience:

2003–2006  Economic Advisor to President, OOO PSG LSR

2006–2008  Research and Projections Director, OOO LSR

2008–present  Strategic Planning Director, OOO LSR