| On 26th of May on a results of Annual General Meeting of FESCO shareholders (had place in 21st of May) the of Board of Directors’s session has taken place.
Siman V. Povareonkin has been elected as a Chairman of Company’s Board of Directors, President of “Industrial investors” Ltd.
The FESCO Board of Directors confirmed the Provision «About Fund of Manufacturing Development of FESCO" according to which the Fund of Manufacturing Development of FESCO is organized. The means will be spent for updating of fleet, replacement and modernization of the container equipment exclusively.
The question of creation of Committees of Board of Directors has been considered also. Creation of three Committees is planned: Committee of Board of Directors on the Staff and Compensation, Investment Committee of Board of Directors and Committee of Board of Directors on Audit.
The Committees fulfil theirs activity according to requirements of the Code of Corporate Conduct and the Provision “About Fund of Manufacturing Development of FESCO”.
The Board of Directors has considered some questions of the current economic Company’s activities.
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