Stockholders discussed the results of the transfer of business from the MICEX Stock Market Section to the MICEX Stock Exchange. It was noted that the results of trades held in the 1st quarter 2005 confirmed that the transfer had been completed successfully.
Stockholders were presented proposals on the Stock Exchange’s priority areas of development, which are to be considered by the new Board of the MICEX SE.
The stockholders’ meeting decided to introduce amendments to the MICEX SE’s Charter, which lift restrictions on the organization of trading in derivative instruments on stock assets. This enables the MICEX SE to apply for the license to organize exchange trading in standard contracts, issued by the Commission for Commodity Exchange at the Federal Service for Financial Markets.
The meeting elected the MICEX Stock Exchange’s Board for the period till the next annual general meeting of stockholders. The Board is comprised of 11 people, including:
- Bella Zlatkis (Deputy Chairperson of the Board of Sberbank)
- Vasili Kirpichev (Deputy Chairperson of the USSR Bank for Foreign Trade)
- Sergei Kornev (Deputy Head of the Office for Financial Markets, Chief Dealer, International Moscow Bank)
- Sergei Koshelenko (Deputy Chairperson of the Board of Rosbank)
- Sergei Lykov (Senior Vice-President, member of the Board of Eurofinance Mosnarbank)
- Dmitri Olunin (Vice-President, Head of the Office for Coordination and Analysis of Vneshtorgbank)
- Alexander Potemkin (Chief Executive Officer of the MICEX)
- Alexei Rybnikov (Chief Executive Officer of the MICEX SE)
- Alexander Svintsov (Deputy Chief Executive Officer of Aton Company)
- Mikhail Sukhobok (Deputy Chief Executive Officer of Investment Group Otkrytie)
- Vladimir Tatsii (Vice-President, Head of Depositary Center of Gazprombank).
Oleg Labutin (Director of the MICEX Financial Department), Vyacheslav Ulupov (Director of the Department for Internal Control and Audit of the USSR Bank for Foreign Trade) and Yuri Yukin (Vice-President, Head of the Service for Internal Control of Eurofinance Mosnarbank).
The meeting summarized the results of the MICEX SE’s financial and economic activities in 2004 and adopted the balance sheet, the statement of financial results and the distribution of profits and losses. According to the MICEX SE’s accounts, prepared by Russian standards, in 2004, the MICEX SE’s net profit amounted to 4.223 Mln rubles. The meeting decided not to pay dividends for the result of 2004 financial year. The meeting appointed PricewaterhouseCooper’s Audit auditor of the MICEX SE for the period till the next annual general meeting of stockholders.
