Acron’s Board of Directors resolved to hold an extraordinary general meeting on 24 February 2015.
The Board of Directors meeting set the agenda of the extraordinary general meeting, which includes approval of related-party transactions.
Shareholders will consider acquisition of additionally issued shares in Acronit (Acron’s subsidiary) to the amount up to RUB 9.1 billion for the purpose of further optimising internal cash flows of Acron Group and, specifically, further additional capitalisation of NWPC.
Shareholders will also consider related-party transactions between Acron and Agronova Europe AG, which may be completed in future in normal course of business before holding an ordinary annual general meeting, to the aggregate amount of up to RUB 48 billion.
Agronova Europe AG is Acron’s subsidiary and sells products on export markets. Approval of additional limits is necessary due to weakening Russian rouble rate against the U.S. dollar, as well as in the context of increased output and sales.
The list of persons entitled to attend the general meeting shall be compiled as of 12.00 am, Moscow time, 11 January 2015.