Concern Kalina to pass dividend

Kalina Concern JSC held the annual stockholders meeting. The stockholders approved the company’s annual report, balance sheet, profit and loss accounts for 2005, and the audit report. The meeting also approved of the declaration of equity dividends for the second half of the year 2005 (12.30 RUR per equity). The dividends are to be paid within 30 days of their declaration at the meeting. The meeting elected the company’s Board of Directors consisting of Mikhail Vasilyev, Head of NCH Advisors, Inc. representative office in St. Petersburg, Nikolai Geller, Development Director of Kalina Concern

UrBC, Yekaterinburg, August 27, 2010. The dividends of Concern Kalina’s stockholders remained the same in the first half of 2010 as they were in the second half of 2009. The decision to this extent was made at the extraordinary general meeting the other day. The first half of this year will result in the dividend of 10.66 RUR per ordinary share (in Russian rubles or in foreign currency, with the exchange rate introduced by the Central Bank of Russia on the payment day) within thirty days of the meeting. In the second half of 2009, the dividends also came to 10.66 RUR per share.

Concern Kalina started reorganizing from an open joint stock company into a limited liability one. The decision to start the reorganization of Concern Kalina JSC into Concern Kalina LLC was supported by 5.24m votes against 1.19m of those who abstained, the company reports. The voting meeting also included the agreement on the procedure of exchanging Concern Kalina JSC’s shares for Concern Kalina LLC’s participant contributions: it was decided that Concern Kalina’s 6,438,348 shares (face value 70 RUR each) should be exchanged for a share in Concern Kalina LLC’s authorized capital. Concern

The share dividend determined by OAO Concern Kalina for the company’s stockholders for the first half of 2010 may actually be the same as the one paid in the second half of 2009. The company’s BOD suggested at an EGM on July 22, 2010 that the stockholders set the ordinary share dividend at 10.66 RUR. The same amount of money was paid per share in the second half of 2009. All in all, 103.55 million RUR was directed to dividend payments then.

OAO Concern Kalina’s Board of Directors decided to hold an extraordinary general meeting so that the holders of the Russian cosmetics and cleaning chemicals manufacturer’s shares approve of a decrease in the concern’s authorized capital. The reduction will be achieved through the company buying out a portion of its own shares in order to cut down on their total amount. The EGM has been scheduled for January 11, 2011.