Rakhat JSC (Kazakhstan) to spend the whole net income for production development

/KASE, August 10, 05/ - Rakhat JSC (Almaty), whose common shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, has presented to KASE a copy of the minutes of general shareholders meeting held on July 28 of 2005. According to the approved agenda company's shareholders took following decisions (quotations from the mentioned document are given below): 1. "Confirm report of the Executive committee of Rakhat JSC for year 2004;" 2. "Confirm conclusion of the returning board of Rakhat JSC;" 3. "Confirm company's consolidated financial statement for year 2004: - annual balance sheet with the currency of balance 4,415,163 th. (Four billion four hundred and fifteen million and one hundred and sixty three thousand) tenge, - results of financial and economic activity net income 545,283 th. (Five hundred and forty five million and two hundred and eighty three thousand) tenge; - cash flow statement as of 31.12.2004; - equity capital flow statement as of 31.12.2004." 4. "Spend company's net income for year 2004, amounting to KZT545,283 th. for production development." 5. "Confirm the Statute about the company's Board of directors;" 6. "Set 5-year (five) authority term for the Board of directors;" 7. "Confirm methods of shares cost determination during their repayment by the company;" 8. "Confirm statute about holding the general shareholders meeting;" 9. "Confirm appointment of Deloitte and Touche as the company's auditor." Company's primary activities - production and sale of confectionery and other foodstuffs. [2005-08-10]