Power Machines to Hold Annual Shareholders Meeting

Shareholders have approved the annual report and accounting report of the company for 2005, Articles of Association and the new wording of the Statement of Power Machines BoD.

 

Shareholders have also elected the Board of Directors of the company comprising eight people:

 

Sergei Batekhin, Deputy General Director, Interros

Igor Klochko, CEO, Power Machines

Boris Vainziher, member of the Board, Technical Director, RAO UES

Viacheslav Voronin, member of the board, Managing Director, “Servis” business unit of RAO UES

Norbert Koenig, Vice President, Power Generation Siemens AG

John Sleeman, Independent Director

Ekaterina Salnikova, Deputy Director of the Financial Dpt. in charge of corporate governance, Interros

Hans-Juergen Wio, Vice President Siemens Russia, president of PGTD, Siemens

 

Shareholders also elected members of the Revision committee; approved transactions with ROSBANK and the supply contract with Mosenergo to be signed in future. The shareholders decided not to pay dividends for Y2005, but to channel profit towards company development, including modernizations and re-equipment.

 

Rosexpertiza Ltd. is to audit the enterprise.