PJSC “M.video” announces the decisions taken by the Annual General Meeting of Shareholders.

20.06.2016 15:35

PJSC “M.video” (MOEX: MVID) announces key decisions taken by the Annual General Shareholders’ Meeting (AGSM) of the Company today.

The AGSM voted for the approval of the 2016 annual report and the financial statements of OJSC “Company “M.video”, including profit and losses statement for 2015 prepared in accordance to RAS as well as the Company’s financial statements for 2015 prepared in accordance with IFRS.

The AGSM took a decision to approve and to pay 2015 annual dividend in the amount of 20 rubles per 1 ordinary share of PJSC “M.video”. The total dividend amounts to approximately 3.6 billion RUB and should be paid to the nominal holders no later than July 15th 2016 and to the shareholders registered in the shareholders’ register no later than August 5, 2016. The record date for the dividend is set up as July 1, 2016.

The AGSM voted for the election of the Board of Directors as follows:

  • Pavel Breev, General Director of LLC “M.video Management”
  • Adrian Burleton, independent director
  • John Coleman, independent director
  • David Hamid, non-executive director
  • Christopher Parks, non-executive director
  • Vladimir Preobrazhenskiy, independent director 
  • Alexander Prisyazhnuk, independent director
  • Chris Skirrow, independent director
  • Alexander Tynkovan, General Director of PJSC “M.video” and President of M.video Group

Alexander Tynkovan, President of “M.video” commented: “First of all I would like to thank our long time Board members, Utho Creusen and Walter Koch for being with the Company and contributing to our ultimate leadership in the Russian Consumer Electronics retail”.

He said: “We welcome the new Board of Directors and warmly greet the newly elected members of the Board, Vladimir Preobrazhenskiy and Chris Skirrow, who both have vast experience on the top level of the various large businesses and corporations. We again show our full commitment to the continuity of the good corporate governance while developing a succession of the Board’s membership and managing the inflow of the new ideas and expertise into our Board of Directors”.

Alexander Tynkovan also added: “The 2015 annual dividend approved by the AGSM in the amount of 20 Russian rubles per share is fully in line with the Board of Directors recommendation to distribute at least 60% of the Company’s IFRS net profit which again signals of the Company’s long-term goal to sustain high returns to our shareholders”.