Annual General Assembly of Shareholders took place at “Metafrax”

On the 30th of May on the annual assembly shareholders of "Metafrax" made a decision to pay out dividends for 2012 at the rate of 1 RUR for an ordinary share.

Previously the company paid out dividends for 9 months of 2012 at the rate of 3.1 RUR for an ordinary share. In 2011 annual dividends were 0.5 RUR per share, in 2010 - 0.35 RUR. Thus, the amount of dividends for 2012 increased by 8.2 times compared to the result of 2011.

Such great increase, in Board Chairman Armen Garslyan's opinion, is connected with record-breaking production rates of the company:

- Our dividend policy is clear and consistent. First, shareholders invested in the company's development, and now the result of these investments is the financial performance which allows us to increase dividends. If the performance increases further, we are planning to increase dividends as well.

In total it was agreed to use 326,137,000 RUR for annual dividend payments of 2012, which is 15.6% of net revenue (over 2 billion RUR). The rest of the funds - 1,765,000,000 RUR - were used in current production activity, investments and social needs.

The Board was also elected. Natalya Startseva, Finance Manager of "TD Metafrax", became a new member. Vladimir Belyaev, Director of "Bekar" company, left the Board. Other members - Oleg Gordienko, Vyacheslav Grachev, Vladimir Daut, Dmitriy Kravchek and Viktor Mayer - kept their positions. Armen Garslyan was once again elected as the Chairman.

- The company enters the phase of great investments, technical and economical innovations; this is why it was decided to elect a specialist in finances as a Board member, - said Armen Garslyan.

On the assembly in April Vladimir Daut was once again elected as General Director of the company.

Shareholders also approved reports and financial accounts, new version of company's regulations and the deals that they were interested in. "Ukey-Audit" became the company's auditor for 2013.