The focus on the investments in production development

The annual general assembly of shareholders was held at "Metafrax".

The 28th of May at the annual general assembly of shareholders of the JSC "Metafrax" the Board of Directors was elected. Oleg Gordienko, Vyacheslav Grachev, Vladimir Daut, Dmitry Kravchek, Victor Mayer and Natalia Startseva kept their positions on the Board. Armen Garslyan was re-elected as the Chairman of the Board of Directors.

The shareholders approved the annual reports and financial accounts, as well as deals that they were interested in. JSC "UKey-Audit" and JSC "KPMG" were approved as the company’s auditors for 2015.

Also during the annual assembly the shareholders decided not to pay out dividends on the company’s ordinary shares because of the results of 2014. It was connected with the necessity of financing the enterprise’s ambitious investment program, and with volatile economic environment.

- This year the company’s investments are planned to be 2.5 bln RUB. It is a record-breaking amount, which is almost 2.5 times higher than last year's figure. The difficult situation is also observed in the banking sector of the business credit. Thus, we cannot risk the company's investment program, - says Armen Garslyan, the chairman of the board of directors “Metafrax".

Net profit gained as a result of 2014 will be directed at financial support of current operations, investment financing and at social needs. However, the board of directors of the company does not rule out that the situation could change by the end of this year.