An annual general shareholders' meeting of Lipetsk Municipal Energy Company took place on June 26, 2012. In accordance with the agenda, the participants adopted and approved the Company's 2011 annual report and annual financial reports, including a profit and loss report for 2011. As in previous years, there will be no dividend payments. The profits earned by the Company will be used for capital expenditures. The shareholders selected a new auditor to carry out all the necessary due diligence procedures concerning accounting and financial reports for 2012.
The general meeting elected a new Board of Directors, which now includes Sergey G.Argentov, Fedor A. Zhigarov, Evgeniy A. Gubanov, Alexander V. Lisov, Sergey A. Koval, Aleksander V. Pariy, Viacheslav N. Markov. A newly elected Review and Revision Committee consists of 3 members: Alexey P. Dorokhin, Ekaterina V. Kondratuk and Arkady K. Strizhevsky.