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

17.06.2014 16:30

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

The AGSM voted for the approval of the 2013 annual report and financial statements of OJSC “Company “M.video”, including profit and losses statement for 2013 prepared in accordance to RAS.

The AGSM took a decision to approve and to pay 2013 annual dividend in the amount of 20 rubles per 1 ordinary share of OJSC “Company M.video”. The total dividend amounts to approximately 3.6 billion RUB and should be paid no later than August 8, 2014. The record date for the dividend is July 4, 2014.

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

1.    Pavel Breev, General Director of LLC “M.video Management”

2.    Adrian Burleton, independent director

3.    Utho Creusen, independent director

4.    Peter Györffy, non-executive director

5.    David Hamid, non-executive director

6.    Walter Koch, independent director

7.    Mikhail Kuchment, non-executive director

8.    Alexander Prisyazhnuk, independent director

9.    Alexander Tynkovan, General Director of OJSC “Company “M.video”

Alexander Tynkovan, CEO and President of OJSC “Company “M.video” commented: “We again demonstrated our strong commitment to the highest corporate governance standards and delivered to increasing shareholders’ value. The 2013 dividend approved by the AGSM is fully in line with the Company’s Board of Directors earlier recommendation of at least 60% payout ratio and also provides for high returns to investors as compared to Russian stock market benchmarks”.