The Memorandum outlines the plan for OJSC "RTS Stock Exchange" share distribution. The Exchange shareholders will have to sign the appropriate agreements and pledge their shares to beneficiaries selected by the Road of Directors. The Memorandum also describes disciplinary measures to ensure adherence to the plan.
The Board also approved Sergey Rodionov’s candidacy for the position of General Director at the OSJC "RTS Stock Exchange".
Sergey Rodionov pointed out that the approved plan will prompt market participants to be more active, at the same time allowing them to hold stock in the venture in proportion to their market activity.
OJSC "RTS Stock Exchange’ was created in March 2004 to build a liquid marketplace where a broad range of participants is able to participate in managing the organization. The authorized share capital equals 80 million rubles, with 800 thousand common shares. 60% of the stock will be equally distributed between 15 largest brokers, 15% given to other companies- participants. 10% will belong to the "RTS Stock Exchange" non-profit partnership and "RTS Technical Center" and the remaining 5% - to the management of the Exchange.
