The meeting approved Acron’s 2013 Annual Report, financial statements and profit and loss distribution.
Acron’s 2013 RAS loss of RUB 2,904 million will be covered by the retained earnings for previous years. It was resolved not to pay dividends for 2013.
Upon proposal of the Board of Directors, Acron’s shareholders resolved to approve allocating a part of Acron’s profit for previous years and pay its ordinary share dividends of RUB 152 per share from the retained earnings. Thus, RUB 6,161 million in total will be distributed as dividends. The declared dividend record date shall be June 9, 2014.
The meeting approved Acron’s Charter as amended and Regulation on Acron General Meeting drafted by the Board of Directors in view of changes in legislation and improvement of corporate management practices. Shareholders also approved the following auditors:
• Baker Tilly Russaudit for RAS financial statements
• KPMG for IFRS financial statements
The meeting elected the Board of Directors as follows:
• Igor Belikov, Independent Director
• Vladimir Gavrikov, Executive Director
• Egor Gissin, Head of the Legal Department
• Alexander Dynkin, Advisor to CEO
• Viktor Kochubey, Advisor to CEO – Project Manager
• Alexander Popov, Senior Vice President
• Valery Shvalyuk, Head of the Finance Department.
The meeting set the amount of remuneration to independent members of Acron’s Board of Directors.
The meeting elected an internal audit team consisting of Valentina Aleksandrova, Irina Klassen, Nadezhda Preobrazhenskaya, Tatiana Strigalyova and Tatiana Khrapova.
Shareholders also resolved to approve several related-party transactions which may be executed in future in the course of Acron’s business.
On the subsequent meeting of the newly elected Board of Directors Alexander Popov was re-elected Chair of the Board of Directors, Vladimir Gavrikov was re-elected Deputy Chair of the Board of Directors, Vladimir Kunitsky was appointed CEO. The Board of Directors also formed the Managing Board consisting of Vladimir Kunitsky (Chair of the Managing Board), Vice President for Production and Development Ivan Antonov, Senior Vice President Oscar Valters, Finance Director Alexey Milenkov, Senior Vice President Alexander Popov and Vice President Overseas Dmitry Khabrat.