Imstalcon (Kazakhstan) announces results of May 11, 2011 annual general shareholders meeting

/KASE, May 20, 11/ - Imstalcon (Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has by an official letter informed KASE of results of the annual general shareholders meeting held on May 11, 2011: quote The annual general meeting of Imstalcon shareholders took place on May 11, 2011. 55 shareholders (or their representatives) totally possessing 5,942,925 votes (92.9% of the total number of the Company's voting shares) attended the event. The results of voting by the general shareholders meeting on the agenda issues are as follows: Defining the composition and term of office of the Audit commission, selecting its members. The following decision was taken: 1.1. To set up the Audit commission consisting of three people. 1.2. To appoint the following persons members of the Audit commission: - Nataliya Shestakova; - Nataliya Emeliyanova; - Irina Kuzmenko. 1.3. To appoint N. Shestakova the chairman of the Audit commission. 1.4. To set the term of office of the Audit commission at two years, until the annual general shareholders meeting, where the Y2012 financial statements will presented for approval. Voting results: "in favour" - 5,942,925 votes unanimously. "Against" - no votes. "abstained" - no votes. Approval of Imstalcon's Y2010 financial statements. The following decision was taken: 2. To approve Imstalcon's following financial statements for the reporting period ending December 31, 2010 with the balance sheet currency equaling to KZT61,206,663 thousand, whose audit was conducted in accord with the legislation of the Republic of Kazakhstan.: - Consolidated financial position report as of the end of the reporting period; - Consolidated income statement account; - Consolidated total period revenue account; - Consolidated capital account for the period; - Consolidated cash-flow statement; - Comments to consolidated financial statements. Voting results: "in favour" - 5,942,925 votes unanimously. "Against" - no votes. "Abstained" - no votes. Approval of procedure of distribution of Imstalcon's net income for Y2010 financial year. The following decision was taken: 3. To approve the following procedure for distribution of Imstalcon's net income ending December 31, 2010: - period's net income makes up KZT419,461 th.; - retained earnings of last period make up KZT6,154,391 th.; - transfer of depreciation to retained earnings after re-evaluation of fixed assets equals to KZT473,095 th.; - the total income makes up KZT7,046,947 th.; - to direct KZT192,000 th. to dividend pay-out; - to retain KZT6,854,947 th. at the company's disposal. Voting results: "in favour" - 5,195,725 votes. "Against" - 747,200 votes. "Abstained" - no. Taking decision on payment of dividends on common shares and approval of dividend size per Company common share due for financial year 2010. The following decision was taken: To approve the size of dividend due for 2010 at KZT30 per Company common share. 4.2. To pay out dividend due for financial year 2010 in cash on July 1, 2011 at the location of Executive body of Imstalcon and its subsidiaries. 4.3. To designate Imstalcon's net income for reporting period ending December 31, 2010 equaling to KZT192,000 th. as Y2010 dividend payment source. Voting results: "in favour" - 5,195,725 votes. "Against" - 747,200 votes. "Abstained" - no. Report on the Board of Directors performance in 2010. The following decision was taken: 5.1. To take note of the Report on the Board of Directors performance in 2010. 5.2. To acknowledge the operation of the Board of Directors and its members satisfactory. Voting results: "in favour" - 5,195,725 votes. "Against" - no votes. "Abstained" - 747,200 votes. Electing the Company's Board of Directors. The following decision was taken: 6. To elect Imstalcon's Board of Directors for the term of two years: - Vladimir Kananykhin - shareholder - 5,042,173 votes, - Mikhail Labukov -shareholder - 9,492,203 votes, - Artur Miller - shareholder - 3,620,504 votes, - Mikhail Rezunov - shareholder - 5,616,820 votes. Independent directors of the Company: - Yuri Dodonov - 6,931,832 votes, - Tamara Sinitsyna - 4,954,018 votes. After consideration of the agenda's sixth issue there were 52 shareholders (or their representatives) who totally possess 5,895,305 votes (or 92.1 % of the total number of the Company's voting shares) at the meeting. Defining size and terms of Board of Directors members' remuneration. The following decision was taken: To set the monthly remuneration to members of the Board of Directors working in Imstalcon and its subsidiaries at 60% (sixty percent) of their actual calculated monthly salary. 7.2. For members not working in Imstalcon and independent members of the Board of Directors remuneration shall make up 60% (sixty percent) of the average size of main wages of the Board of Directors members working in the Executive body of Imstalcon and wages of members of subsidiaries' Boards of Directors. 7.3. To set the Board of Directors Chairman's monthly salary at 100% (hundred percent) of the actual calculated monthly salary the Board of Directors members working in the Executive body of Imstalcon. Voting results: "in favour" - 5,895,305 votes unanimously. "Against" - no votes. "Abstained" - no votes. Approval of the Company's revised Regulations on the "Dividend Policy". The following decision was taken: 8. To approve the Company's revised Regulations on the "Dividend Policy". Voting results: "in favour" - 5,895,305 votes unanimously. "Against" - no votes. "Abstained" - no votes. Approval of the revised Provision on "The Company's Board of Directors". The following decision was taken: 9. To approve the revised Provision on Imstalcon's Board of Directors". Voting results: "in favour" - 5,895,305 votes unanimously. "Against" - no votes. "Abstained" - no votes. unquote [2011-05-20]