On April 27 the Board of Directors was held at LOMO PLC where its members decided to summon the Annual meeting of shareholders.
The Annual meeting of shareholders will take place on June 25, 2004. Lists of shareholders, who have a right on participation at the meeting will be compiled by May 9, 2004.
Consideration of following issues is included to the Agenda of the meeting:
• Issue about confirmation of Annual report, annual accounts including profits and losses statement (accounts of profits and losses), distribution of profits and losses on the results of 2003 and distribution of retained profit of previous years.
• Issue about dividends over shares of 2003
• Issue about election of members of the Board of Directors
• Issue about confirmation of auditor on 2004
• Issue about election of members of the Auditing Commission
• Issue about payments and amount of benefits and compensations for members of the Board of Directors and the Auditing Commission
• Issue about approval of deals in which there is an interest
The Board of Directors decided to charge dividends for preferred shares. The main part of received net profit (about 3,7 million roubles) is picked out for this purpose. It gives an opportunity to charge dividends for one preferred share in the amount of 10 copecks (last year the amount of dividends for one preferred share amounted to 5 copecks). This decision must be confirmed at the meeting if shareholders. It won't be dividend charge for ordinary shares.
The Board of Directors also entrusted to the Chairman of the Board of Directors - A.M. Aronov and General Director of PLC - A.S. Kobitsky to prepare and represent for confirmation to new Staff of the Board of Directors "Regulations over information policy of PLC" in June 2004.