Results of Annual General Meeting of Shareholders 06/29/2016

29 June 2016

On June 29, 2016 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 AGM approved the Annual Report, the Annual Financial Statements, including the profit-and-loss statement of FESCO for 2015. The AGM approved a motion not to pay dividends for 2015 due to the absence of the profits for 2015.

The new Board of Directors was elected as follows:

  • Ziyavudin Magomedov, Chairman of the Board of Directors of Summa Group
  • Clive Denis Bode, Partner of TPG Capital investment firm
  • Marat Shaydaev, Acting Director General of United Grain Company
  • Dmitry Shvets, Head of TPG Capital Russia
  • Andrei Bazylev, CFO at Karenta LLC
  • Leyla Mammad Zada, Summa Group Chief Operating Officer
  • Konstantin Kuzovkov, CFO at Summa Group
  • Alexander Potapushin, Representative of Mercuria Energy Trading SA in Russia
  • Andrey Uspensky, Director General of URALSIB Management Company

The AGM approved KPMG as the auditor of FESCO PLC to audit the Company’s financial statements according to RAS for 2016. There is no decision for the election of the Аudit Comission composition.

The AGM also approved a number of related party transactions, which FESCO PLC may implement in its usual business during the period from June 29, 2016 to the date of the Annual General Meeting on the results for 2016.