Moscow Exchange Announces Results of Supervisory Board Meeting
The Supervisory Board of Moscow Exchange on 23 May 2013 approved a proposal to buy and subsequently cancel the Moscow Exchange quasi-treasury shares held by MICEX-Finance LLC, a wholly-owned subsidiary of Moscow Exchange. The terms of the transaction will be determined in the third quarter of 2013.
The Supervisory Board instructed MICEX-Finance to vote at the upcoming Annual General Shareholders Meeting (AGM) of Moscow Exchange in support of the election to the Supervisory Board of Alexander Afanasiev, Chairman of the Executive Board of Moscow Exchange. As previously announced, the AGM will take place on 25 June 2013. MICEX-Finance will not participate in voting for any other items on the AGM agenda, according to the resolution of the Supervisory Board.
The Supervisory Board supported the appointment of Sergei Poliakoff, Managing Director for IT, to the Management Board of Moscow Exchange. Mr Poliakoff replaces Vahan Vardanian, whose term of office expired on 15 May 2013.
The Supervisory Board elected Martin Paul Graham, an independent director, as Chairman of the Risk Management Commission of the Supervisory Board.
The Supervisory Board passed a resolution to increase the equity capital of CJSC JSCB National Clearing Center (NCC), a wholly owned subsidiary of Moscow Exchange, by RUB9.0 billion to increase the capitalization of NCC. NCC acts as the Central Counterparty on all markets operated by Moscow Exchange. The capital increase will be structured as an acquisition of NCC"s additional shares issue by Moscow Exchange.
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