MOSCOW, Russia – May 25, 2012– JSC SITRONICS (“SITRONICS” or “The Company”) (LSE: SITR), the leading provider of telecommunications, IT and microelectronic solutions in Russia and the CIS, today announced that the Board of Directors has approved the Annual General Meeting (“AGM”) Agenda. The AGM will be held on June 28th, 2012 at 3.00 pm Moscow time and will take place at the following address: 10, 8th of March., Bld. 1, Moscow, Russia.
The Board of Directors recommended the AGM to approve the following:
1. Determination of the procedure for conducting the Annual General Shareholders' Meeting of JSC SITRONICS.
2. Approval of the annual report of JSC SITRONICS for 2011, the annual accounting statements, including the profit and loss statement of JSC SITRONICS for 2011.
3. Distribution of the profit and loss of JSC SITRONICS upon the results of the fiscal year, approval of the amount, procedure, form and due date of payment of the dividends for 2011 on the shares of JSC SITRONICS.
4. Determination of the total number of the members of the Board of Directors of JSC SITRONICS.
5. Election of the members of the Board of Directors of JSC SITRONICS.
6. Election of the members of the Audit Commission of JSC SITRONICS.
7. Approval of the auditor of JSC SITRONICS for 2012.
8. Approval of the related party transactions which may be made by JSC SITRONICS in the future.
The Board of Directors has approved the text of the notice convening the Annual General Shareholders' Meeting, the form and text of the ballot papers for voting and the list of information (materials), which will be provided to the shareholders while preparing for the Annual General Shareholders' Meeting.
The Board of Directors recommended to the Annual General Shareholders' Meeting not to pay an annual dividend for the twelve months ended December 31, 2011.
The Board of Directors has also made the following changes to the Executive Board of the Company: Alexander P’yavkin, Evgeniy Maksimenko, and Evgeniy Tarasov were included into the Executive Board instead of Mikhail Bondarenko, Alexander Krasovsky, and Marina Zabolotneva.
Further information with regard to the AGM and other related issues will be available since May 29, 2012 on the Company’s website www.sitronics.com
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