The main objective of the Coordination council is to give preliminary consideration to the most important issues regarding strategy and tactics of development of regional telecommunication companies (MRK), restructuring of Svyazinvest, major transactions, as well as to facilitate agreement on the above between minority shareholders of Svyazinvest and top management of the company.
The Council works out decisions of an advisory nature, gives estimates of likeliness that this or that envisaged transaction or event is approved (including everything related to restructuring), implements new principles of shaping the public position of the companies going into the holding, which impacts the level of informational transparency and adds a positive touch to the investment image of the companies.
The Chairman of the Coordination Council is Oleg Fedorov who is deputy chairman of the Board of Directors of the Investor Protection Association.
The following issues fall within the authorities of the Coordination Council:
1. HR policy principles in executive and collegial bodies of MRK, Rostelecom and their subsidiaries and affiliates (boards of directors, committees, audit commissions);
2. managing financial debt portfolio and refinancing MRK under the existing conditions;
3. priorities and major criteria of investment programs;
4. dividend policy;
5. investment strategy of MRK in view of debt burden and existing alternatives;
6. technological and corporate strategy of the companies’ development, in particular in vies of the envisaged restructuring;
7. development of mobile business, as well as other high profitable projects;
8. adjustment of budgets (quarterly and annually) for 2009 and development of forecasts for 5 years;
9. preliminary agreement of positions of shareholders on required corporate approvals (at the level of shareholders meetings or meetings of the board of directors);
10. principles and programs aimed at motivating executive and collegial management bodies; and
11. improvement of the internal regulatory base of subsidiaries.
other issues as agreed by the parties.
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