Bayan-Sulu OJSC (Kazakhstan) for the year 2001 will pay KZT3.28 of dividends per each share

/KASE, June 26, 02/ - Bayan-Sulu OJSC (Kostanay) common shares of which are traded in official list of KASE securities under category "B" presented to KASE a copy of protocol of annual general meeting of shareholders that was held on April 19, 2002. In accordance with adopted day agenda the shareholders of Bayan-Sulu OJSC approved financial reporting and Auditing commission for the year 2001 and also made following decisions: - Out of undistributed income of KZT36.6m direct KZT12m to dividends (20% of total undistributed income), KZT3m - retained earnings; - Approve a size of dividends for repayment - KZT3.28 per share (2.79 taking into account retrained at a source of payment 15% of income tax), due to total income directed to dividends (12m tenge) and number of shares outstanding (3,659,569); - Set actual payment date on April 19, 2002, ending of registration period - March 20, 2002; - Approve a development forecast and budget use order of net income for 2002; - Make changes into company's charter. With the report on results of Bayan-Sulu OJSC activity for the year 2001 on behalf of the Board the President made speech (Chairman) - Boger E.A. According to financial statements 8,602 tons of confectionery amounting to KZT1,351.6m with present prices (to 1,236.3m with comparable prices) were produced in 2001. In physical expression production volume increased by 1,186 tons or by 16% against 2000. This is with present prices - by KZT285.8m (with comparable prices - by KZT236.1m). There were dispatched 6,634 tons totaling KZT1,316.8m of products to customers, that is 1,389 tons or 19.2% greater than in 2000. 5 types of new products were introduced. During 2001 aiming to increase effectiveness in production 4 additional wrapping machines EY-4 were installed in sweet and chocolate sector, 2 electronic scales were set up, reconstruction of freezing line was conducted, 2 EL-Y and 4 EV-4 were installed on the Super-Royal line in caramel section. Also reconstruction and replacement of other obsolete equipment were made. In addition development works were conducted in electricity system and building of air-cable line VP-10kw costing KZT7,070th was begun, having used KZT2,360th in 2001. Totally in 2001 there was invested KZT3.5m to main capital, attracted KZT44.5m by short-term loans, settled KZT7.6m of long-term debt and KZT37.6m of short-term debt. Gross revenues totaled KZT200.0m, income from primary activity - KZT94.7m (in 2000 - KZT55.5m), undistributed net income - KZT36.6m, profitability - 17.2% (15.6% in 2000) According to Bayan-Sulu OJSC General shareholders' meeting the following development and net income distribution by results of 2002 is planned: - Produce and dispatch 9.5th tons of confectionery amounting to KZT1.5bn; - Receive income from primary activity totaling KZT99m; - Receive net income of KZT69.3m and use it in the following way: direct 55% to production development, 20% - to dividends payment, 20% - to payments for work, social needs and other expenditures, 5% - to retained earnings; - Finish VP-10kw air-cable line construction with length of 3 km; - Modernize slab chocolate machinery, install a pourer for slab chocolate with large additions production costing $400th ; - Execute preparatory works on introduction of quality management system. Main kind of activity is production and realization of confectionery. [2002-06-26]