OJSC “Company M.video” (RTS, MICEX: MVID), Russia’s largest consumer electronics retailer, announced today the decisions of the Company’s Board of Directors.
The Board of Directors recommends to hold the AGM of OJSC “Company M.video” shareholders on June 6, 2013. April 29, 2013 is set up as record date for the AGM.
The Board of Directors took a decision to recommend to the AGM not to distribute the net profit of the Company for 2012 financial year and not to declare dividend payments.
Peter Györffy, Chairman of the Board, commented that: “The Board of Directors have decided to defer the 2012 dividend proposal until we are able to complete a review of the Company’s strategic development opportunities which exist in the market. We anticipate that it will be done by the end of summer”.