URSA Bank holds AGM

18 April 2007 (14:50)

URSA Bank held AGM on April 12, 2007; the meeting resulted in approval of the annual report and of the annual balance sheet as well as the profit and loss statement. The attendees also looked at the report by the inspecting committee for 2006 and agreed upon Altai Audit Consulting Ltd. as their auditor for 2007.

The shareholders elected the new Board of Directors: Andrei Bekarev, Kirill Brel, Yuri Vavilov, Ruben Vardanyan (Troika Dialog’s Chairman of the Board), Gueorgui Vassilev (Clariden Leu SA CEO), Oleg Kirillov (Director of SM. CAPITAL GROUP PTY Ltd.), Alexander Taranov, Arvid Turkner (DEG (Deutsche Investitions-und Entwicklungsgesellschaft mbH) Investments Manager), and two financial consultants.

URSA Bank’s profits amounted to 2,626,955,285.42 RUR in 2006; the stockholders decided to declare 68,581,333 RUR and $3,600,000 worth of dividends and to invest the rest in the company’s development fund. They also approved of the changes made in the Provision on the Board, the Provision on the inspecting committee, and the company’s Charter.

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