News

28.06.2006

On June 28, 2006 Aviadvigatel’s annual general meeting of shareholders was conducted

On June 28, 2006 Aviadvigatel's annual general meeting of shareholders was conducted. Shareholders who own 85.79% of voting stock attended the meeting.

Aviadvigatel's shareholders, including the State with 45% stock package, approved the Company's Annual Report, annual accounts, distribution of net profit in the amount of 3 million 964 thousand rubles with 1 million 40 thousand rubles for dividends payment included.

Uralaudit Ltd. (Perm) is approved as the Company's auditor. The Board of Director consisting of 11 persons was elected. Among the elects are 5 representatives of the Russian Federation - V.G. Bobylev, E.A. Gorbunov, A.I. Kitchenko, V.M. Maksimenko, M.V. Solovieva, who were nominated for election by the RF Government Order No.
96-p dated January 30, 2006. The representatives of United Technologies Corporation of USA, E.V. Alexandrova, G.B. Beliaev, D.V. Tonkov, S.V. Fefelova, the Senior Vice President of the Bank of Foreign Trade, K.G. Kozhevnikov, and the Department Deputy Manager of Gazprom, A.Z. Shaikhutdinov, were also elected as the members of the Board of Directors.

A new Revision Commission of 5 persons was elected.

Mr. Alexander A. Inozemtsev, General Director of Perm Motors Group Management Company noted that the new Board of Directors represents the key customers of scientific and technological products of the Company: Rosprom, Gazprom and United Technologies Corporation. The participation of one of the top managers of the Bank of Foreign Trade in the activities performed by Aviadvigatel's Board of Directors allow coordinating decisions that will be made with the general policy of the main shareholder as regards the companies and enterprises of Perm Motors Group.