Shareholders  General meeting of OJSC « The Seventh Continent » took place on June, 27th, 2006, on which shareholders have approved key offers of Directors Board of the Company.
According to the decision of the General meeting, the new structure of Directors Board consists of 7 members: Karnauhov V.A., Fedorov B.G., Iljashenko G.I., Efremov V.V., Titov B.J., Fadeev V.A., Epifanova N.N. At the same time there are three independent  Directors in Directors Board: Valery Fadeev, Boris Titov and Boris Fedorov.
By results of General meeting, payment of dividends for 2005 at a rate of 150 million rubles (two rubles on one Ordinary Share) is approved. Shareholders also have approved the annual report on financial and economic activity of the Company for 2005 according to which the net profit of the company has increased for 69 % concerning a similar parameter of 2004, and the pure proceeds of the company « The Seventh Continent » in 2005 have reached 20 158 million rubles.
In opinion of the General director of OJSC «The Seventh Continent » Galina Iljashenko , General meeting of shareholders has highly estimated results of financial and economic activity of the company for 2005. The decisions accepted on new structure of Directors Board of the company, including increase in number of independent Directors, corresponds to the work principles of the company, which carries out public stock floatation. The main principles are dynamical development and protection of shareholders interests of the Company.