Corporate Governance Structure and Principles > Governance and Control Bodies > General Meeting of Shareholders

General Meeting of Shareholders

The Company strives to conduct a constructive dialogue with its shareholders based on the respect for their rights and legal interests, ensuring a high level of trust between shareholders and the Company in relations arising in connection with the Company's management. The Company follows the principle of equal treatment of all shareholders of the Company.

In order to timely inform the Company's shareholders of holding a General Meeting of Shareholders the Company gives notice to all persons entitled to attend the General Meeting of Shareholders at least 30 days prior to the date of the General Meeting of Shareholders. In order to provide all shareholders with free and easy access to materials of a General Meeting of Shareholders the Company publishes all materials relating to the agenda of the General Meeting of Shareholders on the Company's website at least 30 days prior to the date of the General Meeting of Shareholders.

In order to ensure effective protection of the Company's shareholders' rights to participate in a General Meeting of Shareholders and accuracy of voting results, the functions of the Accounting Chamber in the General Meeting of Shareholders are performed by the Company's registrar. The Company invites members of the Board of Directors and the Auditing Commission, auditor and Director General of the Company to participate in General Meetings of Shareholders.

Shareholders exercise their rights to participate in managing the Company's activities by voting in General Meetings of Shareholders on issues referred to the competence of the General Meeting of Shareholders.

Main decisions of the General Meeting of Shareholders

In 2012 JSC IDGC of the North-West held two General Meetings of Shareholders:

  • the Annual General Meeting of Shareholders of JSC IDGC of the North-West was held on June 21, 2012 (Minutes No. 5);
  • the extraordinary General Meeting of Shareholders of JSC IDGC of the North-West was held on August 28, 2012 (Minutes No. 6).

The General Meeting of Shareholders:

  • approved the Annual Report of the Company for 2011, annual accounting statements for 2011, including the profit and loss statement (profit and loss accounts) of the Company, distribution of profit (loss) of the Company, the Company's auditor;
  • elected new compositions of the Board of Directors and Auditing Commission of the Company;
  • approved a new revision of the Regulation on the Procedure for Convening and Holding the Board of Directors of the Company.

The extraordinary General Meeting of Shareholders of JSC IDGC of the North-West was convened at the request of the Company's shareholder JSC IDGC Holding which, at the moment of making the request, owned over 10% of the Company's voting shares. The extraordinary General Meeting of Shareholders of JSC IDGC of the North-West was convened on the basis of the resolution of the Board of Directors of JSC IDGC of the North-West of June 1, 2012 (Minutes No.100/21) in accordance with Article 55 of the Federal Law on Joint-Stock Companies.

The extraordinary General Meeting of Shareholders terminated powers of the members of the Board of Directors elected in the Annual General Meeting of Shareholders held on June 21, 2012 and elected a new composition of the Company's Board of Directors.