General Meeting of Shareholders

The General Meeting of Shareholders is the Company’s supreme management body. In its operations, the General Meeting of Shareholders abides by the laws of the Russian Federation, the Articles of Association of the Company, and the Regulations on the General Meeting of Shareholders.

The competence of the General Meeting of Shareholders is determined by the Federal Law on Joint-Stock Companies and the Articles of Associations of the Company.

In 2020, the Company held one annual General Meeting of Shareholders; to prevent the spread of the coronavirus infection, it was conducted in the form of in-absentee voting.

General Meeting of Shareholders date General Meeting of Shareholders date and minutes No. General Meeting of Shareholders quorum Key resolutions made by the Meeting
29.05.2020 29.05.2020 № 43 99.67% of the total voting stock outstanding
  1. Approve the annual report and the annual accounting statements of the Company for 2019.
  2. Approve the following distribution of the Company’s profit by the end of 2019:
    • RUB 121,401 ths. – to increase the reserve fund;
    • RUB 1,669,696 ths. – to develop the Company;
    • RUB 636,914 ths. – to dividend payments;
    • RUB 0 ths. – to recover losses from previous years.
  3. Pay the dividends on ordinary shares of the Company at the end of 2019 to the tune of RUB 1.90318 per one share in monetary form.
  4. Elect the members of the Board of Directors and the Audit Commission of the Company.
  5. Approve Ernst&Young LLC as the auditor of the Company.
  6. Introduce amendments to the Company’s Articles of Associations related to the name change.
  7. Approve the revised Regulation on the Board of Directors of the Company

Resolutions of this General Meeting of Shareholders requiring implementation are carried out:

  • the profit is distributed in accordance with the resolution of the Meeting, the dividends are paid to the shareholders in a timely manner;
  • the contract on the audit of the accounting (financial) RAS and IFRS statements for 2020 with Ernst&Young LLC is signed and executed;
  • on August 10, 2020, the state registration of changes to the Articles of Association of the Company related to change of its name was implemented.
The resolutions of the General Meeting of Shareholders of Rosseti Kuban are published on the corporate website in thesection.