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HSCI Announces Results of Annual General Shareholders’ Meeting

Moscow – 18 June 2015. OJSC HSCI – The Human Stem Cells Institute (“HSCI”, MOEX: ISKJ), one of Russia’s leading biotech companies, today announced the results of the Annual General Shareholders’ Meeting (AGM) held on June 18, 2015 in Moscow.

Voting at the AGM, shareholders adopted, among others, the following decisions:

  • Shareholders approved HSCI’s Annual Report and Annual Financial Statements prepared according to Russian Accounting Standards, including the Company’s profit and loss statement, for the 2014 fiscal year.
  • Shareholders decided not to allocate the Company’s 2014 net profit of 6,840,000 rubles and not to pay annual dividends based on FY2014 results.
  • Shareholders elected a new Board of Directors, which includes the following directors, 4 of which are independent:
  1. Dmitry Alexandrov, Deputy General Director for Investments, UNIVER Capital; independent director;
  2. Roman Deev, Chief Scientific Officer of HSCI;
  3. Artur Isaev, General Director of HSCI;
  4. Sergey Kiselev, Head of Department at the Vavilov Institute of General Genetics of the Russian Academy of Sciences; independent director;
  5. Boris Maizel, independent director;
  6. Konstantin Mauer, Director of Mauer-Audit auditing company LLC; independent director;
  7. Alexander Prikhodko, Deputy General Director of HSCI.

According to HSCI’s Charter, the Company’s Board of Directors consists of 7 members.

  • Members of the Audit Commission were elected:
  1. Svetlana Blokhina, Financial Control and Internal Audit Officer of HSCI;
  2. Oksana Peterson, Deputy Chief accountant of HSCI;
  3. Svetlana Samoylova, Director for Investor Relations of HSCI.

According to HSCI’s Charter, the Company’s Audit Commission consists of 3 members.

  • Shareholders approved ReKa-Audit LLC (Moscow region) as HSCI’s external auditor for the 2015 fiscal year.
  • The restated version of the Company’s Charter was adopted. Among other things, the Charter has been updated to meet the current Russian legislation on joint stock companies according to which Open Joint Stock Companies publicly traded must be renamed to Public Joint Stock Companies. I.e. Open Joint Stock Company Human Stem Cells Institute (OJSC HSCI) has been renamed to Public Joint Stock Company Human Stem Cells Institute (PJSC HSCI).

Full Version of the Press Release (344 kb)

18 June 2015