NDC's Board of Directors Approves Changes in Existing Committees and Forms the New Ones
Russia's National Depository Center reports results of its BoD meeting.
- (1888PressRelease) July 29, 2010 - MOSCOW - National Depository Center (Closed Joint Stock Company) (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, held a meeting of its Board of Directors on July 26. The company's directors decided to change the names of the following committees of the Board: the Committee on HR and Remuneration and the Audit Committee. The Board of Directors has approved the appropriate changes in the Regulations on these committees.
The Board of Directors has also made decision on formation of the following committees of the Board of Directors: the Committee on HR and Remuneration, the Committee for Technological Policy and Development and the Audit Committee. It was decided not to form the Budget Committee and to terminate the powers of the members of the Budget Committee elected on 13 November, 2009.
Alexander Ikonnikov, Director General and Managing Partner of Board Solutions CJSC, Chairman of Supervisory Council, Co-Founder, Independent Directors Association; Member of the Board of Directors, NDC, has been elected the Chairman of the Committee on HR and Remuneration.
Nikolai Degtyarev, Deputy Director, Head of Department for Provision of Operations and Technologies in the Directorate for Provision of Audit of Operations in Financial Markets, Bank of Russia, has been elected the Chairman of the Committee for Technological Policy and Development.
Yuri Dubin, Director of Depository, Sberbank, Member of the Board of Directors, NDC, has been elected the Chairman of the Audit Committee.
The Board of Directors has authorized Mr. Ikonnikov, Mr. Degtyarev and Mr. Dubin to hold discussions with the members of NDC's Board of Directors and the company's shareholders in order to form a list of the candidates to the appropriate committees.
About NDC
National Depository Center (Closed Joint Stock Company) is the largest settlement depository in Russia, servicing on-exchange and OTC transactions with all types of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, the majority of transactions with equities and also services UIT units and Eurobonds. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substitute numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
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