Tube-rolling plant of Chelyabinsk holds annual stockholder meeting

24 April 2006 (11:26)

Chelyabinskiy Truboprokatniy Zavod JSC, tube-rolling plant of Chelyabinsk, held the annual stockholder meeting on April 20, 2006, the company’s spokesperson said to UrBC representative.

Ilya Cherepanov, member of the company’s Board, presented the annual report concerning the financial and managing activity of the plant in 2005. The company made 20.240bn RUR in sales profits, the net profit came to 644,867,000 RUR, according to Russian accounting standards.

The meeting approved of the annual report as well as the accounting report, the P & L statement, and profit distribution. The shareholders decided to pass the dividend for 2005. The undistributed profit is to be invested in the company’s strategic development; the top priorities of this development plan had been set up by the Board of Directors.

The shareholders also agreed on the amendments to the company’s Charter and the Provision concerning the Board of Directors brought about by the changes in the number of Board Members. The following members were elected: Alexander Fyodorov, Vitaliy Sadykov, Oleg Kustikov, Sergey Moiseev, Oleg Selesnev, Viktor Skryabin, and Alexander Pribludov. Alexander Fyodorov was elected Chairman. Audit Classic CJSC was chosen as the company’s auditor for 2006; the meeting also elected the inspection committee and approved of the corporate culture policy statement.

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