The Annual General Meeting of Shareholders

The bank holds the annual General Meeting of Shareholders no earlier than two months, and no later than six months after the end of the financial year. In the period between the annual meetings, an extraordinary General Meeting of Shareholders may be held. It is summoned by the Board of Directors’ decision taken on its own initiative or at the request of the Audit Commission, the Auditor, or shareholders holding no less than 10% of the bank’s voting shares. Notice about a General Meeting of Shareholders is published on the bank’s website no later than 30 days prior to the meeting.

The General Meeting of Shareholders is competent (has a quorum) if attended by shareholders owning more than half of the bank’s voting shares. Activities of the General Meeting of Shareholders are governed by the Articles of Associations, and Regulations on the General Meeting of Shareholders and Order of Holding of the General Meeting of Shareholders. These documents can be found on the bank’s website under “Investor relations / Information disclosure”.

In 2014, two General Meetings of Shareholders were held: the annual General Meeting of Shareholders on June 27, 2014, and an extraordinary General Meeting of Shareholders on October 23, 2014. The extraordinary General Meeting of Shareholders addressed the issues of revising the bank’s Articles of Associations in accordance with the current legislation of the Russian Federation as well as reelection of the Board of Directors. Minutes of the General Meetings of Shareholders are published on the bank’s website.

My Report

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