The Board of Directors of OJSC North-West Telecom held a meeting on May 14, 2004. The main items of the meeting were related to review and approval of materials to be submitted to the annual general meeting of the Company’s shareholders.
Having heard and discussed the speakers’ opinions, the Board of Directors decided to:
1. Pre-approve the annual report of the Company for 2003. Recommend that the annual General Meeting of Shareholders approve the annual report of the Company for 2003, the annual accounting including the profit and loss statement of the Company , and allocation of profit, including that for dividend payment, and losses of the Company by the results of the report (2003) fiscal year.
2. Recommend that the General Meeting of Shareholders pay the dividend for the year 2003:
on preferred shares of ‘A’ type, at the rate of RUR 0.357 per share in cash, within the period from August 15, 2004 till December 31, 2004,
on ordinary shares, at the rate of RUR 0.083 per share in cash, within the period from August 15, 2004 till December 31, 2004.
3. Approve the following Agenda for the annual General Meeting of Shareholders of the Company:
Approval of the annual report, the annual accounting including the profit and loss statement (profit and loss account) of the Company , and allocation of profit, including that for dividend payment, and losses of the Company by the results of the under report fiscal year.
Fixing of the 2003 dividend, and of the format and dates of its payment for shares of each category (type).
- Election of members of the Company’s Board of Directors.
- Election of members of the Company’s Auditing Committee.
- Approval of the Company Auditor for the year 2004.
- Revisions of, and amendments to the Charter of the Company.
- Revisions of, and amendments to the Provisions on the Company’s Board of Directors.
- Revisions of, and amendments to the Provisions on the Company’s Executive Board.
- Approval of the new version of the Provisions on the Company’s Auditing Committee.
- Setting the rate of reward to members of the Company’s Board of Directors.
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