VTB Bank announced the results of its Annual General Meeting (AGM) of shareholders, which was held in Moscow on 8 June 2012. The shareholders approved JSC VTB Bank’s Annual Report for 2011 and Annual Financial Statements including Profit and Loss Statement (JSC VTB Bank Profit and Loss Account) for 2011. It was decided to allocate JSC VTB Bank profit for the year 2011 as follows:
The shareholders made a decision to announce 2011 dividend payment worth RUB 0.00088 per ordinary registered share of JSC VTB Bank of nominal value of RUB 0.01, and set the following 2011 dividend payment procedure:
The AGM elected VTB Bank’s Supervisory Council comprising 11 members, including:
The shareholders approved JSC VTB Bank Statutory Audit Committee comprising 6 members. CJSC “Ernst & Young Vneshaudit” was approved as JSC VTB Bank Auditor to exercise a mandatory annual audit of JSC VTB Bank for the year 2012.
The AGM approved the limits for interested party transactions to be entered into by JSC VTB Bank in the course of its standard commercial business.
The AGM also decided to terminate JSC VTB Bank membership in the Russian Europay members Association.
The shareholders approved the new edition of JSC VTB Bank Charter and authorized Andrey Kostin, VTB Bank President and Chairman of the Management Board, to sign the new edition of JSC VTB Bank Charter and also the application for the approval of the new edition of JSC VTB Bank Charter to be submitted to the Bank of Russia.
The shareholders also approved the new edition of the Regulation on JSC VTB Bank Supervisory Council and the new edition of the Regulation on JSC VTB Bank Management Board.
In addition, shareholders voted to pay remuneration to JSC VTB Bank Supervisory Council members who are not state employees.