Shareholders of SAT & Company JSC confirm the annual financial statements, decide not to pay dividends on common shares for year 2007 and include changes in the Board of directors` composition

/IRBIS, Natalya Vaguina, December 29, 08/ - SAT & Company JSC (Almaty, further - the company), securities of which are included in Kazakhstan Stock Exchange (KASE) official list, had provided KASE with the copy of protocol of annual general meeting of its shareholders, dated November 20, 2008. According to the provided document, company's shareholders made the following decisions: - to confirm the report of the Board on company's activity results for 2007 and consolidated financial statements of the company for 2005 - 2007; - to allocate the company's net income for 2007, amounting KZT1,654,591,000.00 for company's development, not to pay dividends on company's common shares; - to take into account the information on the absence of shareholders` appeals on company's activity and its officials by results of 2007; - to take into account the information on the amount of interest to the members of the Board of directors and company's Board; - to split the company's shares at 1:10,000 ratio; to increase the amount of authorized common stock by 2 bn. units; to issue 750 m. items of preferred shares; to determine the amount of dividends on preferred share - KZT1; - to elect the following members of company's Board of directors beginning November 20, 2008: D. Mashuri (independent director), K. Mimikenova (independent director),R. Amanbaev; - to approve the company's charter in new edition; - to restructure liabilities on coupon bonds by means of bonds redemption from the big investors with simultaneous placement of common and preferred shares; - to take part in SAT&Co Holding A.S. activity, by acquiring its 87.001 % securities on conditions of concluding protocol on intentions of the parties with the seller Mark Global Corporation Kazakhstan LLP, to approve the decision of company's Board of directors on the payment sum, provided in the protocol as the security of interest in the mentioned deal. [2008-12-29]