Can minority shareholders nominate their candidate to the Supervisory Council?
According to Articles 53 and 66 of the Federal Law on Joint-Stock Companies, members of the Supervisory Council are elected by the General Shareholders Meeting from candidates nominated by shareholders (a shareholder) jointly owning at least 2% of VTB voting shares. Thus, shareholders jointly owning at least 2% of the voting shares are eligible to nominate their candidate to the Supervisory Council according to the procedure provided by the applicable legislation. The nominated candidate will be listed among candidates for election to the Supervisory Council. Candidates, who receive most votes at the General Shareholders Meeting, are considered elected members of the Supervisory Council.
