The shareholders’ right of election of members of the Audit Commission

The Audit Commission is elected by the General Meeting of Shareholders in the number of not less than 3 members for the period until the next annual General Meeting of Shareholders or extraordinary General Meeting of Shareholders with the agenda including the issue of electing new members of the Audit Commission. The number of members of the Audit Commission is defined in accordance with the decision of the General Meeting of Shareholders.

The right to nominate candidate members of the Audit Commission belongs to shareholders who jointly hold not less than 2 percent of the voting shares of the Bank as of the date of making the relevant suggestion.

Suggestions of the shareholders shall be received by the Bank not later than 30 calendar days after the end of the financial year.

The suggestion on nominating candidate members of the Audit Commission shall contain the following data:

• Name(s) of shareholder(s) making the suggestion;
• Number and category (type) of shares in their possession.

Along with the suggestion on nominating candidate members of the Audit Commission the initiator(s) submits to the Board of Directors the consent of the candidate to be nominated as candidate member of the Audit Commission stating:

• full name of the candidate;
• details of personal identification document (document series and/or number, date and place of issue, the issuing body);
• residence;
• date of birth;
• data on education (educational institution, graduation date, acquired profession);
• occupied position (job title) as of the date of the consent to be nominated, positions occupied for the last five years including positions in management bodies of other legal entities;
• data on possession of shares (interests in authorized capital) of other legal entities;
• list of persons affiliated to the candidate;
• information on presence (absence) of unserved prior conviction and administrative disqualification.

The suggestion is signed by the shareholder or his/her authorized representative. If the suggestion is signed by an authorized representative, it shall be accompanied by the duly issued power of attorney.

The Board of Directors is entitled to reject a candidate in the following cases:

• the shareholder(s) did not comply with the deadline stipulated in Regulation on Audit Comisssion;
• the shareholder(s) does not possess the number of voting shares of the Bank stipulated in Regulation on Audit Comisssion;
• the suggestion does not conform with the current law of the Russian Federation and the requirements stipulated in Regulation on Audit Comisssion.

You can get to know in details about the Audit Comission the Regulations on the Audit Comission of Bank Vozrozhdenie.