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Press releases | Archive 2006

RBC revises IT business spin-off time schedule

Moscow, November 29, 2006 - The Board of Directors of OAO RBC Information Systems (RTS, MICEX: RBCI) has resolved to split the spin-off of RBC's IT assets into two stages. It has been decided that at the first stage the transfer of all RBC's IT assets to Armada will be put forward for approval. The Board has fixed the date for an EGM to vote on the issue for January 23, 2007.

The second step concerning the spin off of RBC's IT assets is paying out a special dividend to RBC shareholders in common stock of Armada (IT Division). A general shareholders' meeting will be summoned in February 2007 to approve this.

If both of these motions are approved by the Board of Directors and shareholders the anticipated milestone dates connected with the spin-off of the IT business of RBC will be:

  • December 1, 2006 - a meeting with analysts from investment banks to discuss the spin-off of RBC's IT business.

  • December 8, 2006 - the record date for the EGM.

  • December 22, 2006 - notice of the meeting to shareholders in OAO RBC Information Systems.

  • January 23, 2007 - general shareholders' meeting of OAO RBC Information Systems to consider the transfer of RBC's IT assets to Armada.

  • Middle of February 2007 - Board of Directors' meeting to convene an Annual General Shareholders' Meeting (AGM). The agenda of the AGM will include among other issues the question of distributing a special dividend to RBC shareholders for the financial year 2006 in common stock of Armada.

  • On the date of the Board of Directors' meeting, RBC will publish a press release informing shareholders of the AGM and the date of record.

  • The date of record will be any of the five days following the RBC Board meeting. The shareholders included in the registry on the date of record will be eligible to take part in the AGM and receive a special dividend in common stock of OAO Armada. (Those entities or individuals who buy RBC shares after this date will not be eligible to receive dividends subject to approval of dividend distribution by the AGM).

  • End of March 2007 - Beginning of April 2007 - 45 days after the Board meeting RBC will hold an AGM. The agenda will include the issue of paying out a special dividend to RBC's shareholders for 2006, election of members of the Board of Directors, election of members of the Audit and Compliance Committee of the Company, appointment of the company's auditor and other issues required by law.

  • April - June 2007 - A share issue in the amount of 15% to 25% of the shares of OAO Armada and listing on one or several Russian stock exchanges.
The dates outlined in the schedule above as indicative will be specified as well as communicated to shareholders through official media resources.

Press and investor contacts:
Egor Timofeev
Tel: +7 (495) 363-1111
Email: pr@rbc.ru
Web: www.rbcholding.com