ALROSA Annual Shareholders’ Meeting

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On June 20th, 2009 the ALROSA Annual Shareholders Meeting (ASM) took place in Mirny, Republic of Sakha (Yakutia).

The ASM approved the Company’s annual report and financials, including the P&L statement, for 2008.

ALROSA’s performance in 2008 was assessed by its shareholders as generally positive. The Company’s rough diamond sales amounted to USD 2 178.8 m, USD 5.3 m in excess of the target, with polished diamond sales reaching USD 157.6 m.

Throughout 2008 the construction work at the three most important resource sites — underground mines of Mir, Aikhal and Udachny — continued in line with the ALROSA development forecast up to 2015. In 2008 the expenditures on construction of extractive facilities amounted to RUB 8 974 m, and the expenditures on construction of social and non-industrial facilities amounted to RUB 1502.4 m.

The net profit for year end in 2008 amounted at RUB 1 573.5 m.

The following distribution of the net profit was approved:

  • capital expenditures on plant and equipment — RUB 1 475.3 m;
  • long-term financial investments — RUB 19.5 m;
  • financial provisions — RUB 78.7 m.

For the reason of shrinking net profits it was resolved that dividends for 2008 would not be paid out, with relevant amendments to be made to the ALROSA Co. Ltd. Charter

The ASM approved ООО «Finansovyie i Bukhgalterskyie Consultanty» (FBK), winner of the open tender among auditor and consulting companies, as the Company’s statutory auditor and elected new membership of the ALROSA Internal Audit Commission.

The ASM elected the Supervisory Board of ALROSA composed of:

Mr. ALEKSEEV. Gennady Fyodorovich — First Vice Chairman of the Republic of Sakha (Yakutia) Government;

Mr. ANDREEV, Fyodor Borisovich — Senior Vice President of OJSC Russian Railways (qualified state mandatary);

Mr. AKHPOLOV, Alexander Alikhanovich — Director, Administrative Department, RF Ministry of Finance;

Mr. BORISOV, Yegor Afanasyevich — Chairman of the Republic of Sakha (Yakutia) Government;

Mr. DEMYANOV, Ivan Kirillovich — Vice President of ALROSA Co. Ltd.;

Mr. DUBININ, Sergey Konstantinovich — Member of the Board, CJSC «VTB Capital» (qualified state mandatary);

Mr. YEFIMOV, Victor Petrovich — Republic of Sakha (Yakutia) Minister of Property Relations;

Mr. KUDRIN, Alexey Leonidovich — Vice Chairman of RF Government, RF Finance Minister;

Mr. NIKOLAYEV, Aisen Sergeevich — Head, Republic of Sakha (Yakutia) Presidential and Governmental Offices;

Mr. RYBKIN, Vladimir Borisovich — Head, GOKHRAN of Russia;

Mr. SULTANOV, Ildar Rifovich — Head, Mirny District Municipality, Republic of Sakha (Yakutia);

Mr. TIKHONOV, Anatoly Vladimirovich — First Deputy Chairman, State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ (qualified state mandatary);

Mr. URINSON, Yakov Moiseevich- Deputy CEO, Russian Corporation of Nanotechnologies (RUSNANO) (qualified state mandatary);

Mr. SHTYROV, Vyacheslav Anatolievich — President of the Republic of Sakha (Yakutia);

Mr. YUZHANOV, Ilya Arturovich — Member of Supervisory Board, ZAO «NOMOS BANK» (qualified state mandatary).

This page was last updated on 20 June 2009 at 16.22