PJSC Aeroflot (Moscow Exchange ticker: AFLT) announces the results of Board of Directors meeting held on 9 March 2017 that was chaired by Kirill Androsov.
The meeting agenda included the following items:
Exercising rights over quasi-treasury shares of PJSC Aeroflot. As part of exercising the rights over quasi-treasury shares of PJSC Aeroflot, the Board of Directors decided to allow the Company to nominate a candidate from subsidiary company LLC Aeroflot-Finance to be elected as a member of Board of Directors of PJSC Aeroflot at the next annual General Shareholders Meeting in 2017, and allow voting with quasi-treasury shares. Dmitry Saprykin, member of the Board of Directors of PJSC Aeroflot, was named as a potential candidate. Permission was also given to organize the inclusion of the following items in the agenda of the PJSC Aeroflot Annual General Meeting of Shareholders in 2017 (and voting for them with quasi-treasury shares):
– Approval of a revised version of PJSC Aeroflot Charter;
– Approval of a revised version of Regulation on the General Shareholder meeting;
– Approval of a revised version of Regulation on PJSC Aeroflot Board of Directors;
– Approval of a revised version of Regulation on PJSC Aeroflot Management Board.
The creation of PJSC Aeroflot corporate museum. It was noted that the creation of such a museum would help strengthen Aeroflot’s image. The museum is expected to represent all aspects of the airline’s activities. The Board of Directors decided to approve the initial information regarding the development concept of a PJSC Aeroflot museum, and to ask the Management Board to hold a tender for the development of the museum concept.
Termination of PJSC Aeroflot’s participation in PJSC Transport Clearing Chamber. The Board of Directors decided to divest from PJSC Transport Clearing Chamber (PJSC TCC) by selling the shares that belong to PJSC Aeroflot at an open auction at a market price which will be determined by an independent appraiser. Divestiture is carried out in accordance with the non-core assets divestiture programme approved earlier by the Board of Directors.
Update of Regulation on Aeroflot Group’s Risk Management System. The Board of Directors approved the updated version of Aeroflot Group’s Policy on its Risk Management System. The updates concern the clauses on preventing and combatting corruption.
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