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17.08.2010
On convening UTK’s EGM17.08.2010
Press Release
Krasnodar, August 16, 2010 Southern Telecommunications Company (UTK) [(RTS: KUBN, KUBNP; MICEX: UTEL, UTELP; ADR OTC: STJSY, KUE FRA)], the largest fixed-line telecommunications operator in the Southern and North-Caucasian Federal Districts of Russia, hereby announces that the Board of Directors of UTK (minutes # 5 dated August 16, 2010) adopted the following decision:
- To convene an extraordinary general shareholders meeting of UTK (EGM), on November 1, 2010.
- To determine:
- the form in which the extraordinary general shareholders meeting – absentee voting;
- deadline for accepting ballot sheets – November 1, 2010;
- addresses to which completed ballot sheets should be mailed: 66 Karasunskaya St., Krasnodar, 350000, or Post Office Box 151 (for ORK), Moscow;
- the record date for persons eligible to attend the extraordinary general shareholders meeting of UTK – September 13, 2010.
The Board of Directors of UTK also approved the agenda of the EGM, which includes the following issues:
- On UTK’s payout of 9M 2010 dividends;
- On amending the Statute on the Board of Directors of UTK;
- On the annual compensation payable to members of the Board of Directors of UTK which perform their duties after the annual general shareholders meeting held on June 16, 201.
By decision of the Board of Directors of UTK a recommendation was issued to the extraordinary general shareholders meeting of UTK to adopt a decision to pay out 9M 2010 dividends as follows:
- - 0.0000000110475989 % of UTK’s 9M 2010 net profit per one class A preferred share;
- 0.0000000051007884 % of UTK’s 9M 2010 net profit per one common share,
- in accordance with the procedure for notification of how to receive dividends which are provided to persons listed in the shareholders register of UTK as of September 13, 2010.
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