The annual meeting of shareholders of RAZGULAY Group was held on June 29th. The meeting was attended by shareholders holding 70% of the total number of votes. At the meeting there was read a report on company's work in 2011. At the end of the fiscal year, it was decided not to pay dividends, not to distribute profits and leave it in the Company.

Also shareholders approved the new edition of the Charter of RAZGULAY Group at the meeting . In addition to the updates associated with legislation changes, a new version of the Charter includes a number of provisions aimed at implementing of recommendations of Federal Financial Markets Service of Russia in the field of corporate governance, in particular - the formation of collegial executive body - the Management Board.

During the meeting the Board of Directors was re-elected by a vote. It includes five independent directors.

The members of elected Board of Directors are:

Alexey Buntyakov

Mikhail Galuev

Rustem Mirgalimov

Igor Potapenko

Alexander Schwarzkopf

Dmitry Steinsapir

Ilgiz Valitov

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