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VTB Bank Supervisory Council holds its meeting

 
13 May 2009

On May 13th, 2009, VTB Bank Supervisory Council held its meeting and made a decision to convene VTB Bank Annual General Shareholders' Meeting on June 29th, 2009.

VTB Bank Annual General Shareholders' Meeting will take place at 52 bldg 8 Kosmodamianskaya nab., in the Moscow International House of Music. The meeting shall commence at 13:00.

A list of those entitled to vote at the VTB Bank Annual General Shareholders' Meeting will be taken from the VTB Bank Shareholder Register as of May 13th, 2009. Registration of shareholders attending the Annual General Meeting shall be held from 10:00 on June 29th, 2009.

The Agenda of the Meeting as approved by the Supervisory Council includes the following issues:

  1. Approval of JSC VTB Bank Annual Report.
  2. Approval of JSC VTB Bank Annual Financial Statements, including the Profit and Loss Statement (JSC VTB Bank Profit and Loss Account).
  3. JSC VTB Bank profit (loss) allocation based on the results of the financial year, including announcement of VTB Bank dividends (their amount, time brackets and form of dividend payment).
  4. Number of VTB Bank Supervisory Council members.
  5. Election of VTB Bank Supervisory Council.
  6. Number of VTB Bank Statutory Audit Commission.
  7. Election of VTB Bank Statutory Audit Commission.
  8. Approval of VTB Bank auditor.
  9. Approval of interested party transactions to be entered into by JSC VTB Bank during its standard commercial business.
  10. Approval of a new edition of VTB Bank Charter.
  11. Increase in JSC VTB Bank charter capital by placing additional ordinary registered shares of JSC VTB Bank.
  12. Remuneration payment to independent members of VTB Bank Supervisory Council.

In accordance with the Аgenda approved by the Supervisory Council, the Annual General Shareholders` Meeting will consider the increase in JSC VTB Bank charter capital by placing the Bank's additional ordinary shares on the following terms:

  • number of shares to be issued - up to 9,000,000,000,000 (nine trillion);
  • nominal value of the shares - RUB 0.01 per share;
  • form of issuance - non-documentary;
  • type of offering - open subscription;
  • form of payment for shares - in Russian roubles.

The Supervisory Council shall determine the offering price for the Bank's additional share issue after the Annual General Shareholders` Meeting takes place.

The recommendation of the Supervisory Council to the VTB Bank Annual General Shareholders' Meeting is to announce the 2008 dividend payment of RUB 0.000447 per outstanding ordinary registered share for VTB Bank of RUB 0.01 nominal value. The total cost of the dividend payment will amount to RUR 3 billion, which accounts for 11.18% of VTB Bank's total net profit subject to allocation.


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