The Management Board Authority

The Management Board of the Company acts on the ground of the Charter and the Statute on Management Board which is approved at the General Shareholders Meeting and sets dates and orders of its meetings and the order of decision-making process.
Competence of Management Board shall include the following issues:

1) Development and putting for decision of the Board of Directors of perspective plans for realization of main activities of the Company.
2) Preparation of business plan (corrected business plan) and report on results of its implementation, approval (update) of cash flows of the Company.
3) Preparation of report on finance-economic activity of the Company, on implementation of decisions of the General Shareholders Meeting and the Board of Directors by the Management Board.
4) Decision-making on transactions with such objects as property, actions and services which cost from 1 to 10 percents of book cost of actives of the Company; the cost is defined at the date of decision on the transaction (in consideration of subparagraph 38 of paragraph 15.1 of the Charter).
5) Approval of plans and actions in education and training of the personnel of the Company.
6) Determination of social benefits and guarantees to the personnel of the Company.
7) Decision-making on issues referred to as competence of superior bodies of management of households with authorized capital in the amount of 100 (One hundred) percent or all poller shares belonging to the Company (in consideration of subparagraphs 35, 36 of paragraph 15.1 of the Charter).
8) Consideration of reports by General Director Deputies and Chiefs of departments of the Company on results of implementation of approved plans, programs, directions; consideration of reports, documents and other kinds of information on activity of the Company and its subsidiary and dependent organizations.
9) Decisions on other issues of current activity management of the Company according to decisions of the General Shareholders Meeting, the Board of Directors and on issues submitted to consideration of the Management Board by the General Director of the Company.