Results of Annual General Meeting of Shareholders 06/28/2018

28 June 2018

On June 28, 2018, Annual General Meeting of FESCO PLC shareholders (AGM) was held in Moscow. Shareholders elected the new composition of the Board of Directors and adopted decisions on the other agenda items.

The new Board of Directors was elected as follows:

˗              Shagav Gadzhiev

˗              Mark Garber

˗              Natalia Izosimova

˗              Aleksandrs Isurins

˗              Denis Kant Mandal

˗              Konstantin Kurlanov

˗              Leyla Mammed Zadeh

˗              Dmitry Shvets

The composition of the Board does not change significantly; Clive Denis Bode leaves the Board, as Shagav Gadzhiev joins it.

Shareholders elected the Audit Committee of FESCO composed of 5 members, approved KPMG to be an auditor of FESCO in 2018, approved the annual accounting (financial) statements of FESCO for 2016 as well as the new versions of Regulations on the General meeting of shareholders and Regulations on the Board of Directors of FESCO. Shareholders didn’t take the decision on approval of the annual accounting (financial) statements for 2017 and the annual report of FESCO for 2017. 

Previously, FESCO announced that despite the completion of the principal auditing procedures for accounting (financial) reporting of FESCO for 2017, it postpones obtaining and disclosure of the audit report on statements for 2017 as well as the release of the consolidated accounting (financial) report in accordance with IFRS for 2017 until the accomplishment of effective financial debt restructuring.