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Sole executive body

Sole executive body

The General Director is the Company’s Sole Executive Body.

Upon the decision of a General Meeting of Shareholders the powers of the Company’s Sole Executive Body (General Director) can be transferred to a commercial organisation (managing organisation) on a contract basis. The General Meeting of Shareholders may take such a decision on the proposal of the Company’s Board of Directors only.

Following the proposal of the Board of Directors (Minutes to the meeting of the Board of Directors № 26-2014 dated 29 July 2014) on 10 September 2014 the General Meeting of Shareholders resolved to delegate powers of the Company’s Sole Executive Body (General Director) to a managing organisation as from 1 January 2015.

The managing organisation is responsible for all issues relating to the Company’s current operational management except for the issues covered at the Company’s General Meeting of Shareholders and Board of Directors.

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