Members of Severnaya Kazna’s Board of Directors Pavel Chernavin and Rais Garifulin sell their share holdings and leave

According to the bank’s official report, Severnaya Kazna has recently redistributed its shares among the company’s shareholders. The report, which is an obligatory thing to produce if the company takes any steps that could influence the price of its stock, was published on March 14, 2007; it says that Member of the Board of Directors Pavel Chernavin reduced his share in the bank’s authorized capital from 19.028% to 0%. Member of the Board of Directors Rais Garifulin sold his 5.002% share and ceased to be the bank’s shareholder. According to the corporate website, Mr. Chernavin was the second largest stockholder; Mr. Garifulin was the fourth largest one.


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