A special stockholders’ meeting was held at JSC Dneprospetsstal on March14 2007.
The stockholders approved the report of the Board on the results of financial and economic activity of JSC Dneprospetsstal and its subsidiaries and representative offices for the years 2004 and 2006.
The Company’s net profit for 2004 made up UAH 89 939 495,73, for 2005 – UAH 32 906 468,06, for 2006 – UAH 195 895 609,72.
“The year 2006 was record-breaking for the company by many indicators, but we do not rest on our laurels. An investment plan for the Company’s development of more than UAH 100 million was approved for 2007. Our strategy is to make Dneprospetsstal the leader in its industrial sector”, said Daniel Valk, Chairman of the Board of JSC Dneprospetsstal in his speech.
At the meeting reports and conclusions of the Company’s Auditing Committee for the years 2004 and 2006 were approved; reports of the Supervisory Board for the years 2004 and 2006 were taken into consideration.
By the results of the Company’s activity in 2004 - 2006 a plan, terms and procedure of payment of dividends were approved. Dividends per 1 stock (for 2004 and 2005) amounted to
UAH 102, and for 2006 – UAH 181 for 1 stock. Payment of dividends will be effected in the form of money from March 20 through September 20 2007.
Decisions concerning foundation of independent organization departments without a right of a legal entity on the basis of property of Metallurg recreation center and the slag dumps in the hollow “Srednyaya” were adopted at the Meeting.
Dneprospetsstal stockholders adopted the revised Statute of the Company and commissioned the Supervisory Board of JSC Dneprospetsstal to develop and approve internal regulations of the Company:
• JSC Dneprospetsstal Supervisory Board Regulation
• JSC Dneprospetsstal Board Regulation
• JSC Dneprospetsstal Auditing Committee Regulation
• Time-limits for general meetings of JSC Dneprospetsstal stockholders.
JSC Electrometallurgical Works Dneprospetsstal named after I.N. Kuzmin is a leading enterprise of Ukraine and one of the special metallurgy leaders in the CIS countries.
The Company specializes in production of stainless, tool, high speed, bearing, alloy structural steels, as well as high-temperature nickel-base alloys. More than 800 steel grades and more than 1000 product shapes have been mastered at Dneprospetsstal.
Dneprospetsstal products are certified to ISO 9001 by the Certification Body TUV and meet the requirements of GOST, AISI, DIN, BS, JIS and other standards.