PRIME-TASS. The Board of Directors at Moy Bank. Novosibirsk (part of banking group Moy Bank) recommended at a May 18 meeting that an AGM decide not to pay out dividends for 2008, the bank said in a statement.
It was also recommended not to make allocations to the reserve fund, as it exceeds the statutory limit (5% of the charter capital), and leave 2008 net profit (Rub 1.69 bln) as retained earnings.
The BoD decided to hold the AGM on June 23, 2009 in Moscow. The board of directors put on the AGM agenda a report of the bank’s audit committee, an auditor’s report on the lending institution’s 2008 performance, the approval of an annual report and annual accounting records, issues related to the use of 2008 retained earnings and dividend payouts, the election of a new board and an audit committee, amendments to be made to the bank’s charter and other issues.
The right to vote on the AGM agenda is held pari passu with holders of the bank’s common shares by those who own Class A registered preferred shares with fixed dividends (70% of the par value), the bank said in a statement.
The lending institution was incorporated in April 1994 and was folded into investment and financial group Moy Bank in 2006. As of April 1, 2009 the lender’s charter capital was equal to Rub 27.37 mln and its major shareholders are Gleb Fetisov, limited liability company Moy Bank and Elsib.
