Snezhinskiy Bank JSC holds annual meeting

2 May 2006 (08:50)

The general shareholder meeting held by Snezhinkskiy Bank JSC on April 21, 2006 was adjourned with the decision to distribute 25,000,153.75 RUR worth of profits according to the 1.25 RUR-per-registered paperless share scheme.

Besides, in accordance with the recommendations of the Supervisory Board the net profit is to be split as follows: 1,225,000 RUR is to go to the Special Purpose Fund, 200,000 to Production and Social Development Fund, 50,603,280 to Savings Fund.

The shareholders also agreed on the annual report, the accounting report, including the P & L distribution for 2005, the business plan for 2006-2008, and the new Charter. They selected Listik and Partners Ltd. as the Bank’s Auditor in 2006.

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