Annual report 2016

General meeting of shareholders

The General Meeting of Shareholders is the supreme governing body of Moscow Exchange. General Meetings adopt resolutions on strategic issues.

The scope of questions related to the terms of reference of General Meetings of Shareholders is determined by the Federal Law on Joint-Stock Companies and the Charter of Moscow Exchange.

In accordance with past practice, Moscow Exchange’s Annual General Meeting of Shareholders (AGM) was held on 27 April 2016 to adopt the following resolutions:

  • approving Moscow Exchange’s annual report and accounting (financial) statements for 2015;
  • approving a new edition of Moscow Exchange’s Charter subject to amendments in the legislation and in the field of corporate governance;
  • approving new editions of Moscow Exchange’s Provisions on the General Meeting of Shareholders, Supervisory Board and the Revision Commission;
  • electing members of the Supervisory Board and the Revision Commission;
  • approving a new edition of the Regulations on Remuneration and Reimbursement of Members of the Supervisory Board of Moscow Exchange and making decisions on the payment of remuneration to the members of the Supervisory Board and the Revision Commission for the 2015/2016 corporate year;
  • approving transactions with Moscow Exchange’s subsidiaries and regular business partners that are, in accordance with the current legislation, related-party transactions;
  • approving Ernst & Young Vneshaudit, representing one of the world’s largest international accounting firms, as the company’s auditor for 2016;
  • adopting a resolution on profit distribution and dividend payments for 2016, with the dividend amount standing at RUB 7.11 per ordinary share;
  • approving an agreement regarding Moscow Exchange’s commitment to the Guarantee Fund of NCC Clearing Bank for risk management purposes.

In 2016, Moscow Exchange held one extraordinary meeting of shareholders (2 September 2016). The shareholders approved a corporate restructuring whereby 100%-owned subsidiaries CJSC MICEX Stock Exchange and MB Technologies LLC were consolidated into Moscow Exchange.