General Shareholders' Meeting

The Annual General Meeting of Shareholders is convened once a year in accordance with Russian law, no earlier than 2 months and no later than 6 months following the conclusion of the fiscal year. The Annual Meeting of Shareholders is convened by the Company’s Board of Directors. Any other meeting of shareholders is considered extraordinary.

• its own initiative,
• the request of the Company’s auditor,
• the request of the Company's shareholders (shareholder) that own no less than 10 per cent of the Company’s voting shares as of the date of such a request.

The competence of the General Meeting of Shareholders is provided for by the Company's Charter and the applicable law of Russia.

The matters referred to the competence of the General Meeting of Shareholders cannot be transferred to the competence of the Company’s Executive Body, as well as the Company’s Board of Directors for decision-making, except for the matters stipulated by the Federal law “On Joint Stock companies”.

The shareholders shall take decisions on all matters referred to the competence of the General Meeting of Shareholders by a simple majority of votes of shareholders, unless the applicable law provides for a larger number of votes for taking certain decisions.

Preparation for and conducting of the General Meeting of Shareholders is provided for by the Company’s Regulations for the General Meeting of Shareholders.