For Shareholders
ZTR shareholders have taken the solution to assign UAH 106 mln for dividends payment
Special General shareholder’s meeting of JSC “ZTR” took place on November, 17 of the year 2009. The meeting approved an order of profit distribution, gained from Company activity during the year 2008, terms and order of dividends payment.
Shareholders made decision to distribute net profit in the amount of UAH 527 764 917,65, gained from activity results during the year 2008, as follows:
- to assign profit in the amount of UAH 106 092 000,00 for dividends payment (at that each share is equal to UAH 0,048 (4,8 copeeks) of dividends).
- to distribute the rest of profit in the amount of UAH 421 672 917,65 during subsequent shareholder’s meetings.
Date of commencement of dividends payment (dividend census date) is December, «01» 2009. Date of payment termination is December, «31» 2010. Form of dividends payment – cash resources.
Dividends payment to shareholders of the Company is carried out as follows:
- to private persons – by means of postal order or bank remittance to personal accounts, as well as by means of cash payment at the Company’s cash payment office;
- to legal persons, nominal shareholders – by means of cash transfer to their bank accounts.
Net profit of JSC “ZTR” during the year 2008 made up UAH 528 mln.
Sales volume of the factory products has increased by 60%
Based on the results of activities in 2008, net profit of the JSC “ZTR” – the first-rate transformer factory in CIS – made up UAH 528 mln. Financial and economical results of the company during the year 2008 were approved at regular shareholders meeting of JSC “Zaporozhtransformator” on March 31, 2009.
In spite of started worldwide depression, sales volume of JSC “Zaporozhtransformator” products in 2008 made up UAH 3 bln 323 mln 505 thd before VAT, that is 60% increase if compared with sales volume of the year 2007. This figure at previous year was accounted to UAH 2 blln 80 mln 715 thd.
Production volume in the year 2008 amounted to 47 GVA if compared to 37 GVA in 2007; also within previous year there were manufactured 780 units of the equipment.
The goal of ZTR in 2009 is to maintain the production level reached in 2007-2008. “As we estimated, this is complicated, but attainable goal, – noted Igor Kleyner, JSC “ZTR” General Director, in his report. - By this time we possess a positive commercial margin – 2009 order-in-take makes up approximately USD 370 mln. Against a background of investment activity decay of the customers in Russia and Ukraine, we will direct our efforts to participation in the foreign countries’ projects. We are confident that up-to-date technologies and design solutions alongside with competent and active marketing policy will permit us to manage the approved production program. And in turn, this means that we’ll maintain our staff, its working conditions and values been declared and developed from year to year”.
ZTR shareholders took the solution to aim 334 mln UAH at dividend payment.
On July 21 the special meeting of JSC “Zaporozhtransformator” shareholders took place.
Procedure of distribution of profits terms and order of dividend payment has been approved by the meeting.
The shareholders have adopted a solution to distribute the net profit in amount of 429 711 700 UAH for the year 2007 as follows:
- 95 521 900 UAH should be aimed at replenishment of the Company circulating assets;
- 334 189 800 UAH should be aimed at dividend payment.
Date of commencement of dividend payment (date of dividend inventory) is August 06, 2008. Date of dividend payment termination is December 31, 2008.
Dividends are to be paid as cash assets.
Dividend payment to the Company shareholders is to be performed as follows:
- to the Company employees – acc. to the order established for wage payment;
- to natural persons – by mail order or bank remittance to the personal accounts as well as by means of cash payment via the Company pay-office;
- to juridical persons, nominal holders – by means transferring to their bank accounts.
It should be reminded that based on the results of the Company activities in 2006, amount 103 881 750 UAH was aimed at dividend payment. At the same time a value of one share made up 4.7 copecks of dividends.
Structure of the Company management was revised at special meeting of JSC “ZTR” shareholders’.
Based on the solution of shareholders dated May 12, 2008, JSC “Zaporozhtransformator” management bodies’ structure has been revised. The sole executive body – General Director - was established instead of collective executive board of Directors.
The change was caused by the necessity of improvement of the Company management bodies’ structure in accordance with the part 2 of article 161 of Civil Code of Ukraine and article 47 of Law of Ukraine “Economic Companies”.
Special meeting of the Company shareholders made the solution as referred to introduction of the relevant revisions into Statute, Provision “Supervisory Board” and “Auditing Commission” of JSC “Zaporozhtransformator”.
Mr. Maxim Sokrut, Head of JSC “ZTR” legal department, commented the revision of the Company management structure as follows: “This will allow for the Company’s executive body to take the solutions as for economic activity much more effectively and to respond promptly to change of market opportunities as well as the Customers’ needs”.
On February 26, of the current year General Meeting of JSC “Zaporozhtransformator” shareholders was held for the purpose of approval of financial and economical results of the company for the year 2007 and plans for 2008.
Based on the results of 2007 net profit of JSC ‘’’ZTR’ - the first-rate transformer company in CIS- countries – made up 430 mln. UAH. JSC “ZTR” net profit compared with 2006 is increased nearly by 4 times (115,4 mln. UAH. – in 2006), simultaneously the scope of production sales is increased by two. Production for 2.08 billion UAH (without VAT) was dispatched in 2007. This value made up 1,03 billions UAH as referred to the year 2006.
“Good dynamics of increase of the production scope permits us to provide adequate level of wages. Wage fund without considering the deductions had increased if compared with 2006 from 79 mln UAH to 122 mln.UAH in 2007; wage increase in 2007 made up 50,5%. The current average salary of the company has increased up to 2,2 thousand UAH, - reported Igor Kleiner, General Director of JSC ‘’ZTR”. – In 2008 we will keep on the dynamics of wage increase. At the turn of the year it is scheduled to achieve an average level of income in amount 3 thsd UAH». The costs for social field made up 11 mln. UAH; the actual negative financial result as for maintenance of social objects and costs for welfare and reward of the employees made up 9,3 mln. UAH.
Igor Vsevolodovich Kleiner disclosed the plans of the Company for the year 2008: “At the current year we are planning to achieve the production output on the level above 50 GVA. To achieve such level it is scheduled to extend outsourcing of IV size tanks, turn to the partial purchase of cardboard products, install and modernize the winding machines, provide a reserve of consoles, start-up the new core assembly line, carry out re-organization changes, accept for employment and train the personal for operation with new equipment. In 2008 we are planning to increase cooperation with JSC “Super-power Transformer Plant”. Governing factor of the company successful development is its staff. Due to this fact we have to consider further increase of employees’ welfare level and to create more convenient conditions of work. That means purchasing of up-to-date tools, overalls, repairing of production and accommodation spaces”.
For attention of shareholders of JSC “Zaporozhtransformaor”
The Management Body of Join Stock Company “Zaporozhtransformator” (hereinafter referred to as JSC “ZTR” or “the Company”) informs that General Meeting of JSC “ZTR” shareholders (hereinafter referred to as “the Meeting”) will be held on February 26, 2008 to the address: Kremlevskaya str., 14 (JSC “ZTR” Palace of Culture), Zaporozhye. Start time of the Meeting is 12 :30 p.m.
Agenda of the Meeting:
- Approval of Returning Board of the Meeting.
- Report of Management Body about the results of Company for the year 2007 and approval of the main activities and Company plans for 2008.
- Report of Supervisory Board as for its activity for the year 2007 and general condition of the Company.
- Approval of the report and the plans of the Company Audit Committee for the year 2007.
- Approval of the Company annual results for the year 2007, the report as for execution of the plans for the year 2007 and the Company Balance for 2007.
- Approval of procedure of profit distribution for the year 2007, terms and order of payment of the profit part (dividends).
- Introduction of revisions and annexes into the Company’s Statute.
- Insert of revision and annex into the Regulation “General Meeting of shareholders of Join Stock Company “Zaporozhtransformator”.
- Introduction of revisions and annexes into the Regulation “Supervisory Board of Join Stock Company “Zaporozhtransformator”.
- Introduction of revisions and annexes into the Regulation “Audit Committee of Join Stock Company “Zaporozhtransformator”.
- Introduction of revisions and annexes into Regulation “Procedure of dividend charge and payment in Join Stock Company “Zaporozhtransformator”.
- Introduction of revisions and annexes into Regulation “Management Body of Join Stock Company “Zaporozhtransformator”.
- Recall and formation of Executive Board of the Company.
Approval of the agreements as referred to fulfillment of the Company obligations against Credit Agreement.
JSC “ZTR” shareholders at forthcoming General Meeting will be registered on February 26, 2008 from 08:30 up to 12:00 to the address: Zaporozhye, Kremlevskaya, 14 (JSC “ZTR” Palace of Culture).
For the purpose of registration the shareholder should have the identification document. Representatives of shareholders should have a power of attorney to be issued in accordance with Ukraine legislation, as well as ID to identify the person. Shareholders (and their representatives) are allowed to receive information as for draft solutions and other documents to be discussed at the Meeting to the address of shareholders’ registration before its commencement. Shareholders have the rights to make proposals related to the Meeting agenda at the latest 30 days before commencement of the Meeting.
Proposal is considered to be valid if submitted in due time (30 days before the Meeting) directly to the chancellery or by means of posting to the Company address: 69600, Zaporozhye, Dnepropetrovskoe Shosse, office 3. Call for information and proposals: (061) 270-31-94.
On April 2 ZTR will start payment of dividends to the Company’s shareholders in amount above 100 mln. UAH.
On March 13, annual General Meeting of JSC “Zaporozhtransformator” was held.
The Meeting has approved the report of Management Board as related to the results of Company for the year 2006 and the main activities and plans of the Company for 2007. Also the procedure of profit distribution, terms and order of payment of dividends has been approved by the Meeting.
In particular, the hareholders made a solution to distribute the net profits in amount 115 384 700 UAH, received by the Company results for the year 2006, as follows:
- 5 769 235 UAH should be distributed to the Company Reserve Fund;
- 5 733 715 UAH should be distributed to the replenishment of Circulating Assets of the Company
- 103 881 750 UAH should be distributed to payment of dividends, in doing so the value of one share made up 4.7 copecks of dividends.
Payment of dividends will be started on April 2, 2007. Payment of dividends will be terminated on December 31, 2007.
Dividends are paid to the Company employees acc. to order established for wage payment;
- to physical persons – by means of cash payment via the Company pay-office located to the address Dnepropetrovskoe Shosse 3, room 330;
- to juridical persons, nominal holders – by means of transfers to their bank accounts.
Shareholders who failed to receive dividends acc. to the Company results for the year 2005, can contact to the address: ZTR Management building, Dnepropetrovskoe Shosse 3, room 330, lunch time 11.00 - 12.00. Additional information is to be provided by legal department of the Company, tel. 270-32-48.
JSC “Zaporozhtransformator ” Management body
