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KamAZ

September 30, 2004

KAMAZ Inc. is preparing to a special meeting of its shareholders

On September 29, Board of Directors of KAMAZ Inc. drafted a list of candidates of the next Board of Directors and Revision Commission for voting at the special general meeting of its shareholders. It has also approved texts of bulletins for voting. The special meeting of Shareholders of KAMAZ Inc. will take place on October 29, 2004 in Moscow. This meeting is called due to an administrative reform in the Russian Federation that is currently under way and replacement of the government representatives in the current Board of Directors of KAMAZ Inc.

Shareholders will have to elect 17 members of Board of Directors from the list of 18 candidates.

Board of Directors of KAMAZ Inc. has approved a decision to assign 15 464 166 rubles from the reserve fund to cover previous years’ losses of the Company. Representatives of shareholders looked through the execution of the business-plan of the Company during the first 6 months of 2004. Major targets of the plan have been exceeded and net profit within that period has reached 105,2 million rubles. KAMAZ Inc. is still the leader on the Russian market. It is assumed that KAMAZ Group of Companies will double its financial results by the end of the year and net profit is expected to make 200 million rubles min.


© www.kamaz.net, 2004

 

 

 

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