Moscow Exchange announces AGM results

Moscow Exchange (MOEX) held its Annual General Meeting of Shareholders (AGM) on 27 April 2017.

Shareholders approved the company’s annual report for 2016, its FY 2016 financial statements and distribution of profit, including dividends for FY 2016.

As recommended by the Supervisory Board, shareholders voted to pay a dividend for 2016 of RUB 17.5 bln, or RUB 7.68 per share. This represents 69.4% of consolidated IFRS net profit for the year. Moscow Exchange’s Dividend Policy calls for dividend payments of no less than 55% of consolidated IFRS net profit.

The dividend will be paid no later than 20 June 2017. The record date is 16 May 2017.

Shareholders also approved the new composition of the Supervisory Board, with 12 directors including six independent directors.

The newly elected Supervisory Board:

  1. Anatoly Braverman, First Deputy CEO of the Russian Direct Investment Fund (RDIF). Non-executive director.
  2. Oleg Vyugin, Deputy Chairman of the Supervisory Board, NSD. Independent director.
  3. Andrey Golikov, Deputy Chairman of the Supervisory Board, Moscow Exchange. Non-executive director.
  4. Maria Gordon, member of the Supervisory Board, ALROSA. Independent director.
  5. Valery Goreglyad, Chief Auditor, Bank of Russia. Non-executive director.
  6. Yury Denisov, Chairman of Supervisory Board, NCC Clearing Bank. Independent director.
  7. Bella Zlatkis, Deputy Chairman of the Management Board, Sberbank. Non-executive director.
  8. Anatoly Karachinsky, President, IBS Group. Independent director.
  9. Alexey Kudrin, Chairman of the Supervisory Board, Moscow Exchange. Non-executive director.
  10. Duncan Paterson, independent adviser. Independent director.
  11. Rainer Riess, Director General, Federation of European Securities Exchanges (FESE). Independent director.
  12. Alexander Afanasiev, CEO and Executive Board Chairman, Moscow Exchange. Executive director.

Deloitte & Touche CIS was appointed as independent auditor for 2017.

There are nearly 20,000 individual and 600 corporate shareholders of Moscow Exchange. The company’s free float stands at 62.4%, one of the highest free floats among Russian companies.

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