Magnitostroy JSC to pass a dividend for 2005

The shareholders of Magnitostroy JSC agreed to pass a dividend for 2005; the decision was made at the annual general meeting on June 30, 2006. The meeting was attended by 731 shareholders possessing 284,936 votes, or 86.2% of the company’s voting stock. The shareholders approved of the company’s annual report, the accounting report, including the P&L statement, and agreed to the recommendation made by the Board of Directors concerning the profit and loss distribution; thus, they decided to pass the ordinary share dividend.

The participants of the meeting elected nine Members of the Board: Larissa Brechkova, Pavel Butov, Vazlav Dorozhko, Nikolai Gorbatov, Mikhail Grudshin, Viktor Karpov, Boris Kruychkov, Dmitriy Melnikov, and Dmitriy Pulekha.

The shareholders also elected the inspection committee and decided on Practicum Auditing Firm as the company’s Auditor.


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