Volga Telecom held its annual shareholders meeting in Nizhny Novgorodon June 22, 2004, and approved the annual report, 2003 financial statements, amended the company’s regulatory documents (the company’s charter, regulations on the board of directors, executive board and audit commission).

 

A decision was made to execute the following dividend payouts:

 

- Rub 0.9186 per common share in cash from July 17, 2004to December 15, 2004.

 

- Rub 2.4510 per preferred share in cash from July 17, 2004to December 15, 2004.

 

The majority of votes were cast for the following BoD members:

The auditing committee was elected, composed of the following:

 

Sergei Imanovich Alyokhin	Leading specialist of internal audit department at Svyazinvest
Konstantin Vladimirovich Belyaev	Chief accountant of Svyazinvest
Elena Petrovna Degtyaryova	Leading specialist of electrical communication department at Svyazinvest
Sergei Vladimirovich Tikhonov	Leading specialist of internal audit department at Svyazinvest
Kirill Victorovich Frolov	Deputy head of internal audit department at Svyazinvest

 

Ernst & Young Vneshaudit was appointed as the company’s auditor for 2004. After the AGM, Volga Telecom’s BoD arranged a meeting and elected Yurchenko Evgeny Valerievich as the board’s chairman.