Moscow Exchange Announces AGM Results

Moscow Exchange (MOEX) held its Annual General Meeting of Shareholders (AGM) on 27 April 2016.

Shareholders approved the company's annual report for 2015, its FY 2015 financial statements and distribution of profit, including dividends for FY 2015.

As recommended by the Supervisory Board, shareholders voted to pay a dividend for 2015 of RUB 16.82 bln, or 58.2% of consolidated IFRS net profit, which equates to RUB 7.11 per share, representing a dividend of nearly double that of the previous year (RUB 3.87 per share). The Moscow Exchange Dividend Policy approved in December 2015 sets out the size of dividend to be at least 55% of consolidated IFRS net profit. The dividend will be paid no later than 20 June this year. The record date has been set at 16 May 2016.

Shareholders also approved the new composition of the Supervisory Board, with 12 directors including five independent directors. 14 candidates were on the list for voting.

At the meeting on 28 April 2015, shareholders resolved to reduce the size of the Supervisory Board from 15 to 12 directors, aiming to ensure the effective performance of the Board.

"This year we reduced the Board to 12 directors in order to improve efficiency. The number of Independent Directors, however, remains the same – which speaks to Moscow Exchange's efforts to ensure the Board acts in the interests of all shareholders. The Board is comprised of individuals with strong expertise and impeccable reputations. It is my hope that the new Board will continue to strengthen corporate governance at Moscow Exchange, champion transparency and expand cooperation with the international investment community," said Alexey Kudrin, Moscow Exchange Supervisory Board Chairman.

The newly elected Supervisory Board comprises of:

1. Alexander Afanasiev, CEO, Executive Board Chairman, Moscow Exchange

2. Yuan Wang, independent director;

3. Sean Glodek, member of the Executive Board, Deputy General Director at RDIF, non-executive director;

4. Andrey Golikov, Deputy Chairman of the Supervisory Board of Moscow Exchange, non-executive director;

5. Mariya Gordon, Member of Supervisory Board, PJSC ALROSA, independent director;

6. Valery Goreglyad, Chief auditor at Bank of Russia, non-executive director;

7. Yuriy Denisov, Deputy Chairman of Supervisory Board of NCC Clearing Bank, non-executive director;

8. Bella Zlatkis, Deputy Chairman of the Executive Board at Sberbank, non-executive director;

9. Anatoly Karachinsky, President of IBS Group IBS, independent director;

10. Alexey Kudrin, Chairman of the Moscow Exchange Supervisory Board, non-executive director;

11. Duncan Paterson, independent consultant, independent director;

12. Rainer Riess, Director General, Federation of European Securities Exchanges AISBL, independent director.

Ernst & Young Vneshaudit LLC was appointed as independent auditor for 2016.

The shareholders also approved a number of related-party transactions, including the agreement made between the Moscow Exchange and NCC Clearing Bank on the terms and conditions of the Moscow Exchange"s contribution of up to RUB 5 billion to the Guarantee Fund.