At its meeting on 2 March 2017, the Supervisory Board of Moscow Exchange (MOEX) decided to hold the Annual General Meeting of Shareholders (AGM) on 27 April 2017 and approved the AGM agenda.
The AGM record date is 3 April 2017.
Shareholders will vote to adopt the company"s annual report and financial statements, and determine the distribution of profit for 2016.
The Board recommended that the AGM approve a dividend for 2016 of RUB 7.68 per share. The total recommended dividend is RUB 17.5 bln, or 69.3% of the company's IFRS net profit for 2016. The proposed dividend record date is 16 May 2017. Moscow Exchange continues increasing the size of its dividend payment: it was RUB 3.87 per share for 2014 (55.12% of net profit) and RUB 7.11 per share for 2015 (58.2%). The Company"s Corporate Dividend Policy sets a minimum level of dividend at 55% of net profit.
Shareholders will also elect Moscow Exchange"s 12-member Supervisory Board. The Board approved the following list of 14 candidates nominated by shareholders for the Supervisory Board to be elected at the AGM, eight of whom have been recognised as independent:
- Anatoly Braverman, first deputy CEO of Russian Direct Investment Fund, non-executive candidate.
- Mikhail Bratanov, Head of Societe Generale Securities Services in Russian and the CIS, Head of Securities Services Department at Rosbank, independent candidate.
- Wang Yuan, independent adviser, independent candidate.
- Oleg Vyugin, Deputy Chairman of the Supervisory Board, NSD, independent candidate.
- Andrey Golikov, Deputy Chairman of the Supervisory Board, Moscow Exchange, non-executive candidate.
- Mariya Gordon, member of the Supervisory Board, ALROSA, independent candidate.
- Valery Goreglyad, Chief Auditor, Bank of Russia, non-executive candidate.
- Yury Denisov, Chairman of Supervisory Board, NCC Clearing Bank, independent candidate.
- Bella Zlatkis, Deputy Chairman of the Management Board, Sberbank, non-executive candidate.
- Anatoly Karachinsky, President, IBS Group, independent candidate,
- Alexey Kudrin, Chairman of the Supervisory Board, Moscow Exchange, non-executive candidate.
- Duncan Paterson, independent adviser, independent candidate.
- Rainer Riess, Director General, Federation of European Securities Exchanges AISBL, independent candidate.
- Alexander Afanasiev, CEO, Executive Board Chairman, Moscow Exchange.
The Board also recommended that shareholders decrease Moscow Exchange"s share capital through the redemption of shares for a total of RUB 2.2 million. The shares were bought back from shareholders as part of a routine buyback procedure following consolidation of subsidiaries CJSC MICEX Stock Exchange and MB Technologies LLC into Moscow Exchange. After the redemption, the Company"s capital will total RUB 2,276.4 million.
The Board re-elected Dmitry Shcheglov, Chief Operating Officer, to be a member of the Executive Board for next three years. The authority of Evgeny Fetisov, Chief Financial Officer, was terminated with effect from 7 March 2017, due to his new post at another company. Moscow Exchange will announce the appointment of a new CFO in due course.
For further information, please contact the Public Relations Department at (495) 363-3232.