|
Moscow, October 1, 2004. A regular meeting of CenterTelecom Board of Directors chaired by the company’s Vice-Chairman of the Board of Directors, CenterTelecom General Director Ruben Amaryan, was held on September 28, 2004. The members of the Board of Directors and invitees took part in the meeting.
At the meeting the Board of Directors reviewed the results of Q2 2004 budget performance and approved the key budget parameters and the key figures of the company’s investment plan for the current year. The company board was encharged with the task of preparing and providing for the Board of Directors the company’s amended business plan for 2004.
The members of the Board of Directors reviewed the information concerning the results of activities to recover accounts receivable in Q1 2004. The company Management Board was given instruction to continue with the activity, paying a special attention to collecting past due receivables from private individuals and entities by the company’s branches.
In addition, the meeting approved the Management Board bonus Bylaws, the new editions of regulations concerning the Board of Directors Audit, HR and Compensation, and Corporate Governance Committees, the Bylaws of the newly created Strategic Development Committee as well as the criteria and the principles of awarding bonuses to the Company’s Corporate Secretary.
The Board of Directors Members approved the model of the company’s affiliated and dependent entities reorganization and issued the resolution to divest from non-profit entities The Regional Charity Governor's Target Programs Fund and The Intersectorial Professional Non-Profit Pension Fund.
| 
