Annual General Meeting of FESCO shareholders elects new Board of Directors
On June 29, 2015 Annual General Meeting of FESCO shareholders (AGM) was held in Moscow. Shareholders elected the new composition of the Board of Directors and adopted decisions on the other agenda items.
The AGM approved the Annual Report, the Annual Financial Statements, including theprofit-and-loss statement of FESCO for 2014. The AGM approved a motion not to pay dividends for 2014.
Shareholders also elected the new Board of Directors consisting of 9 persons, as follows: Clive Denis Bode; Jacob Grapengiesser; Natalia Izosimova; Ziyavudin Magomedov; Vladimir Kayashev; Marat Shaydaev; Dmitry Shvets; Dmitry Shokhin; Andrey Uspensky.
The AGM elected the Аudit Comission consisting of 5 persons and approved KPMG as the auditor of FESCO to audit the Company’s financial statements according to RAS for 2015.
Shareholders approved revised versions of Corporate Charter, Regulations on the General Shareholders' Meeting and Regulation on the Board of Directors.
The AGM also approved a number of related party transactions.
FESCO Transportation Group is one of the leading privately-owned transportation and logistics companies in Russia with operations in ports, rail, integrated logistics and shipping business. Diversified but integrated asset portfolio enables FESCO to provide door-to-door logistics solutions and control almost all steps of the intermodal transportation value chain. FESCO Group owns Commercial Port of Vladivostok OJSC, railway operator Transgarant, and Russkaya Troyka (50% joint venture with Russian Railways OJSC). FESCO operates a container park of over 36,000 containers and a fleet of 22 vessels, mostly deployed through own sea service lines, and 4 icebreakers leased under long-term contracts.
Main shareholders of FESCO Group are SUMMA and TPG (49,9%), companies controlled by Mark Garber (23.8% stake) and 26.3% are owned by other shareholders.
