Stockholders of Ural Railway Mechanical Engineering Works decide to pass a dividend for 2005

19 May 2006 (12:00)

The stockholders meeting of Ural Railway Mechanical Engineering Works JSC (UZhZM), member of Sinara Group, was held on May 18, 2006. The meeting was attended by the stockholders owning 74% of voting shares.

The stockholders decided to approve of the company’s annual report and of the accounting statements for 2005. They also approved of some modifications and amendments to the articles of the association. The stockholders decided to pass a dividend for 2005.

They also elected the members of the company’s Board of Directors, seven in number, and the inspection commission consisting of three people. Consulting Company Management Upgrade Ltd., Yekaterinburg, was appointed the auditor of UZhZM. The Chairman of the Board of Directors is to be elected during the next scheduled meeting of the Board on May 19, 2006.

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