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JSC SITRONICS (“SITRONICS” or “the Company”) (LSE: SITR), a leading provider of telecommunications, information technology and microelectronic solutions in Russia and the CIS, today announces that its Board of Directors (“Board”) has set the date for an Extraordinary General Meeting of SITRONICS’ Shareholders (“EGM”) for April 17, 2012. The meeting will be held in the form of absentee voting.
Shareholders registered at the record date of March 7, 2012 will be eligible to participate and vote at the meeting.
The proposed agenda of the EGM includes the approval of the following interested party transactions:
- Supplementary Agreement №1 to the Loan Agreements between SITRONICS and JSC RTI as of November 25, 2011;
- Supplementary Agreement №1 to the Surety Agreement between SITRONICS and the Bank of Moscow to provide SITRONICS’ surety on the Loan Agreement between JSC RTI and the Bank of Moscow as of November 24, 2011.
The EGM will also approve changes in the Regulation on remunerations and compensations to be paid to the Board of Directors of the Company.