ABIndex news

3 March, 2009

Yearly general meeting of Dastan transnational corporation took place

On 27 February 2009 yearly general meeting of Dastan transnational corporation took place. Following questions were considered on agenda:

1. Approval of returning board membership.
2. Making decision on increase amount of OJSC "TNC "Dastan" shares in circulation.
3. Making decision on additional OJSC "TNC "Dastan" stock issue placement order.
4. Establishment of OJSC "TNC "Dastan" branch offices.
5. Approval of OJSC "TNC "Dastan" Articles of association in new edition.
6. Approval of amendments and additions to regulations on OJSC "TNC "Dastan" Board of directors.
7. Management's report on economical activity for 2008.
8. Board of director's report for 2008.
9. Auditing committee's report on 2008 activity totals.
10. Auditor's report on 2008 economic activity.
11. Approval of yearly reports, balance sheet, yearly budget execution totals, income statement by 2008 activity totals.
12. On reserve fund and use of funds for social needs for 2008.
13. Making decision on 2008 income distribution, size of dividends per share and on dividends payment order.
14. Selection of Board of director's members.
15. Pre-term stopping of Auditing committee authorities.
16. Selection of Auditing committee members.
17. Approval of yearly budget for 2009, approval of planned estimates of reserve fund and expenses for social needs, dividends payment.
18. Approval of size of compensation for payment to Board of directors for 2009.
19. Approval of compensation size for payment to Auditing committee members.

All questions included in the agenda have been considered and decisions have been made on each question.

2006. OJSC TNC "Dastan" kept leadership in production of medical centrifuges and heating equipment in 2008. The company keeps developing new types of product and holds research activities. Major importers of the plant's products are CIS countries (Russia, Ukraine, Belarus, and Kazakhstan) and India. For last years positive sales dynamics to Russia has dominated.

Net income of this period has stated 68,4 million soms, amount directed to dividends payment - 17,1 million soms (25% of net income). The Board of directors has recommended the general meeting to approve income in the amount of 13,4 per share (there are 1 275 278 TNC "Dastan" shraes in circulation in total).

Revenue part of estimate for 2009 is planned in the volume of 508 million soms, expense part of the budget forms 427 million soms, balance profit of payments - 72,9 million soms. It has to be supposed that as stock of orders and production volume increase the estimate of revenues and expenses can be adjusted towards increase.

By 2008 totals 33 transactions amounting 317,7 million soms have been conducted with the plant's stock. At that maximum price has been fixed at the level of 510 soms, minimum - 150 soms per share. Now the price per share has a tendency to decrease. For instance, in the end of January the price was 510 soms, in the middle of the year it varied between 400 and 150, and starting from September it was fixed at the level of 200 soms.