The Volga TGC annual general shareholders’ meeting took place on May 21, 2008. The company shareholders approved the annual report and accounting statement of the Company on the results of 2007 fiscal year. Compared to the previous period the net profit of Volga TGC in 2007 increased by 54.9% and amounted to 682.8 million rubles versus 440.4 million rubles in 2006.
Due to the fact that the dividends of 0.002692 rubles to one share were set on the results of 6 months of 2007, the shareholders made the decision not to pay dividends on the results of 2007 and approved the following Company profit distribution (excluding 70.3 million rubles, distributed as dividends on the results of 6 months of 2007):
|
(mln.rbl.) |
| Retained profit (loss) of reporting period: |
611,9 |
| To be distributed to: |
Reserve fund |
34,1 |
| Dividends |
- |
| Accumulation fund |
577,7 |
| Redemption of losses of previous years - |
- |
The shareholder also made the decision to delegate the power of sole executive body of the Company on the management company – Closed Joint Stock Company “Integrated Energy Systems” and elected the new Board of Directors of the Company.
| ¹ |
Name |
Position |
| 1 |
Avetisjan
Vladimir Evgenievich |
Member of Management Board, Managing Director, RAO UES of Russia (Business Unit 2) |
| 2. |
Mr. Alexeev
Pavel Anatolievich |
Director for Technical Controlling, OJSC “TSO-CDA UES” |
| 3 |
Gluschenko
Alexey Dmitrievich |
Senior vice-president – head of strategy realization center, JSC “IES” |
| 4. |
Mr. Ilyin
Evgeny Trofimovich |
Closed Joint Stock Company “Integrated Energy Systems”, Head of Investment and Technical Policy Department |
| 5. |
Mr. Kachay
Alexey Romanovich |
Head of Strategy Department, Reform Management Center, RAO UES of Russia |
| 6. |
Mrs. Kolosok
Elena Valerievna |
Head of Strategy Department, Reform Management Center, RAO UES of Russia |
| 7 |
Nikonov
Vasily Vladislavovich |
General Director, OJSC Volga TGC |
| 8 |
Slobodin
Mikhail Yurievich |
President of JSC “IES” |
| 9. |
Mr. Smelov
Eduard Yurievich |
Open Joint Stock Company “Territorial Generation Company ¹ 5», General Director |
| 10. |
Mr. Tuzov
Mikhail Yurievich |
Vice Chairman of the Executive Board, OJSC “UES Federal Grid Company” |
| 11. |
Mr. Schedrovitsky
Pavel Petrovich |
Closed Joint Stock Company “Integrated Energy Systems”, Vice-president for HR and Organization Development |
CJSC “KPMG” was approved the Company Auditor.
Furthermore, the shareholders’ meeting of Volga TGC:
- Elected the Auditing Committee;
- Introduced amendments and supplements to the Company’s Charter;
- Approved revised version of Provisions on remuneration and compensation payment to members of the Board of Directors and Auditing Committee.
In total, the shareholders possessing in aggregate 72.9% Company shares participated in the meeting.
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