The Board of Directors of JSC OGK-4 made resolution on calling the Annual General Meeting of the Company’s shareholders on June 6, 2008. AGM will be held in a form of joint meeting; record date for the Annual General Meeting is April 21, 2008.
The Company’s annual financial statements for 2007 were preliminary approved by the Board of Directors. Given the Company’s net income for 2007 of RUR 1,488,809,587, the Board of Directors recommends the Annual General Meeting of shareholders to distribute the Company’s retained earnings for 2007 (less RUR 150 million dividends paid for 1Q 2007) to the reserve fund (RUR 74,440,479) and to investments (RUR 1,264,368,393).
"In 2007 the Company exhibited strong financial results having achieved record annual net income since commencement of its operations”, said OGK-4 General Director, Andrey Kitashev. - At the moment our main strategic objective is implementation of the investment program on building new capacities that demands considerable financial input. It is the very reason for the Board of Directors having recommended the shareholders not to pay out the dividends on the results of financial year 2007 and to invest the main part of the profit”.
Agenda of the Annual General Meeting of OGK-4 shareholders is to be approved by the Company’s Board of Directors not later than April 30, 2008.