CTC Media's 2009 Annual General Meeting of Stockholders and Appointment of New Director
21 Apr 2009
LONDON— April 21, 2009 – CTC Media, Inc. (NASDAQ: CTCM), Russia’s leading independent media company, announces that all resolutions proposed at CTC Media’s 2009 Annual General Meeting, held yesterday, have been passed.
Stockholders re-elected four members to the Board of Directors, each for a three-year term: Hans-Holger Albrecht, Petr Aven, Charles Burdick and Alexander Rodnyansky.
The stockholders approved the Company’s 2009 Stock Incentive Plan and the reservation of 7,800,000 shares of the Company’s common stock for issuance pursuant to the plan. No stock options have yet been granted under the plan.
Stockholders also ratified the selection of Ernst & Young LLC as the Company’s independent registered public accounting firm for the year ending December 31, 2009.
At the Board of Directors meeting that immediately followed the stockholders’ meeting, Lev Khasis, Chief Executive Officer of X5 Retail Group N.V., was appointed as a member of the Board of CTC Media to replace Elena Grechina, Senior Vice-President of Alfa-Bank Russia, who has resigned from the Board. Mr. Khasis has been designated to serve on the Board by Alfa CTC Holdings Limited (“Alfa”), an affiliate of Alfa-Bank Russia, pursuant to the terms of a stockholders’ agreement among the principal stockholders of the Company. Ms. Grechina will continue to assist with the management of Alfa’s interest in CTC Media. CTC Media’s Board of Directors is currently made up of 10 members, three of whom, pursuant to the stockholders’ agreement, are designated by Alfa and three by MTG Russia AB, a wholly owned subsidiary of Modern Times Group MTG AB.
The current composition of the CTC Media Board of Directors is as follows:
Hans-Holger Albrecht (Co-Chairman of the Board, current term expires 2012)
Petr Aven (Co-Chairman of the Board, current term expires 2012)
Tamjid Basunia (current term expires 2011)
Charles J. Burdick (current term expires 2012)
Irina Gofman (current term expires 2011)
Kaj Gradevik (current term expires 2010)
Lev Khasis (current term expires 2010)
Werner Klatten (current term expires 2010)
Alexander Rodnyansky (current term expires 2012)
Oleg Sysuev (current term expires 2011)
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