20 November 2009
In accordance with the approved schedule the Board of Directors considered IFRS results of Bank Vozrozhdenie for 9M 2009 and recognized them as satisfactory.
The Board of Directors considered the reports on Bank’s reviews held by the Bank of Russia and submitted to the Board of Directors in 3Q 2009.
The Board of Directors analyzed Q3 report of the Controller over the Bank’s professional activity at the securities market as well as Q3 report on compliance with the rules of internal control and with internal programs to combat legalization of criminally obtained revenues and terrorism financing. All the abovementioned issues were preliminary considered by the Audit Committee.
In order to comply with the Bank of Russia recommendations related to improvement of the corporate governance in credit organizations the HR & Compensations Committee informed the Board of Directors about the most efficient practices related to the issues within the scope of the competence of the Board of Directors.
The Board of Directors made a decision on placement of interest-bearing non-convertible documentary bonds tradable on the stock exchange and payable to bearer of series БО-01, БО-02, БО-03, БО-04 with obligatory centralized keeping, with early redemption provided by the request of the bondholder as well as at the Bank’s discretion. Face value of the bonds tradable on the stock exchange is 1,000 rubles each. The bonds maturity — 1,092 days from the day of placement, the aggregate value of bonds in issue will comprise 16,000,000,000 rubles. The bonds will be placed through open subscription at the price of 100 per cent of the face value of the bonds tradable on the stock exchange. The Board of Directors approved Decisions on issue of bonds tradable on the stock exchange of series БО-01, БО-02, БО-03, БО-04 and the Prospectus of Bonds issue.
The Board of Directors approved a number of internal regulations of the Bank within the scope of its competence as well.