Moscow, Russia – June 30, 2014 – Cherkizovo Group OJSC (LSE:CHE; MICEX:GCHE), the largest Russian vertically integrated company in the meat production and processing industry, reports on the resolutions passed at the Annual General Meeting of Shareholders of Cherkizovo Group OJSC.
On June 30, 2014, Cherkizovo Group Open Joint Stock Company (hereinafter referred to as the “Company”) held its Annual General Meeting of Shareholders, where the Company’s annual report based on financial and operating performance in fiscal year 2013, the annual financial statements, the Company’s Articles of Association and Regulations on the Company’s Management Board as amended were approved.
It was resolved to allocate the Company’s minimum net profit for 2013 determined by the applicable legislation of the Russian Federation to the Company’s reserve fund and to retain the remainder of the Company’s net profit; it was further resolved that no annual dividends should be declared and paid on the Company’s placed shares, and that neither the amount of the annual dividend on these shares nor the payment procedure should be approved.
Seven directors, four of whom are non-executive directors, were elected to the Company’s Board of Directors by resolution of the Meeting of Shareholders.
The following persons are members of the Company’s Board of Directors:
1. Sergei Mikhailov
2. Vitaliy Podolskiy (non-executive director)
3. Samuel Lipman (non-executive director)
4. Mushegh Mamikonian (non-executive director)
5. Igor Babaev
6. Evgeny Mikhailov
7. Marcus Rhodes (non-executive director).
Three members of the Company’s Audit Committee and the Company’s Independent Auditor were also elected at the meeting.
All resolutions on items of the meeting agenda and voting results will be disclosed in the form of a corporate action notice: “On General Meeting of Members (Shareholders) of the issuer and resolutions passed thereby”.