1. Russian law requires limited liability companies and joint-stock companies to hold annual general meetings of shareholders by April 30th and June 30th respectively to approve annual results and elect board members. 2. Meetings must be properly documented according to the type of company, with resolutions requiring notarization for some companies and certification or other means for others. 3. Failure to hold or properly document meetings can result in fines for companies and their general directors.

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Annual General Meeting of Shareholders Deadline is April 30, 2015
We would like to remind you that in accordance with the laws of the Russian Federation “On limited liability
companies” and “On joint-stock companies” the legal entities mentioned there shall hold annual general
meetings of participants (shareholders) to approve annual results of the company’s operations. Moreover, the
issues regarding election of the board of directors of a company, internal audit commission (internal auditor)
of a company, appointment of a company’s auditor, as well as approval of annual reports, annual financial
statements, including profit and loss statements, profit and dividends distribution are resolved at annual general
meetings.
Period for holding a meeting by a limited liability company is from March 01, 2015 until April 30, 2015, by a
joint-stock company is from March 01, 2015 until June 30, 2015.
A decision of a general meeting shall be documented with the corresponding minutes or with the resolution of
a sole participant. In accordance with the changes in the civil legislation, which became effective on September
01, 2014, the adoption of a resolution by a general meeting of the company’s participants and the list of the
company’s participants present at its adoption, are confirmed with regard to:
1. a public joint-stock company by a person administrating the share register of such company and performing
functions of a counting commission
2. a non-public joint-stock company by notarization or certification by a person administrating the share register
of such company and performing functions of a counting commission;
3. a limited liability company by notarization, unless other method (signing minutes by all participants or a
part of participants; using technical means which enable to truly establish the fact of resolution adoption; by
other means not contrary to laws) is provided by the Charter of such company or by a resolution of a general
meeting of the company’s participants adopted by the company’s participants unanimously.
A resolution of a general meeting is documented by the corresponding minutes (resolution of a sole participant),
the company shall keep this document in its archives permanently and ensure it is available to participants and
other persons stipulated by law.
In accordance with Article 15.23.1 of the Administrative Offences Code, an unlawful refusal to call or avoidance
of calling a general meeting of participants of a company, as well as failure to satisfy the requirements of
federal laws for the procedure for calling, preparing and holding general meetings of participants shall entail
the imposition of an administrative fine on General Director (official representative) in the amount from twenty
thousand to thirty thousand rubles, and on legal entities in the amount from five hundred thousand to seven
hundred thousand rubles.
A company’s failure to fulfill the obligations as to safekeeping of the documents stipulated by law shall entail the
imposition of an administrative fine on General Director in the amount from two thousand five hundred to five
thousand rubles, and on legal entities in the amount from two hundred thousand to three hundred thousand
rubles.
2015_03_16
News

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Accountor St. Petersburg
Shpalernaya Ul. 54
191015 St. Petersburg
+7 812 325 82 94
spb@accountor.ru
Timo Sivonen
Executive Director
+7 981 720 60 09
timo.sivonen@accountor.ru
Accountor Moscow
Sadovnicheskaya nab. 79
115035 Moscow
+7 495 788 00 05
moscow@accountor.ru
Samuli Pesu
Deputy CEO
+7 926 710 4361
samuli.pesu@accountor.ru
Accountor is ready to prepare for you the minutes of a general meeting for the year 2014.
Samuli Pesu
Deputy CEO
Accountor Russia
Mobile: +7 926 710 4361 / +358 50 553 2034
Office: +7 495 788 00 05
Email: Samuli.Pesu@accountor.ru
Maria Pulkkinen
Key Account Manager
Accountor Russia
Mobile: +7 911 982 69 62
Office: +7 812 325 82 94 (250)
Email: Maria.Pulkkinen@accountor.ru