News April 2010

Regular Meeting of the Shareholder of Joint-Stock Company «UkrAVTO» Corporation took place in the city of Zaporizhia on April 6.
Shareholders approved annual results of the financial and economic activities of the Company for 2009, report and conclusions of the Auditing Committee. There was taken the decision to direct all gained profit amounted to 5 254000 UAH to the development of the Company activities set forth in its Charter.
Meeting decided on the plans and basic trends of the Company's activities for 2010.
Also several decisions were taken with regard to bringing the Company's Charter into compliance with the Law of Ukraine «On Joint-Stock Companies». In particular, based on the quantity of shareholders there was defined the type of the company - Public, and the Company was renamed from the Joint-Stock Company «Ukrainian Automotive Company» into Public Joint-Stock Company «Ukrainian Automotive Company». Relevant changes were inputted into the Charter, Board and Supervisory Council of the Company. Composition of the Auditing Committee was approved as well.
Meeting approved the decisions aimed at optimization of the Company's organizational structure and cost reduction. In particular, there was taken the decision on liquidation of the following affiliates:
- AFFILIATE «TAVRIA-AVTO» (40 Uchilishna str., Simferopol),
- AFFILIATE «AVTOCENTER NA KALINOVIY» (91 Kalinova str., Zhovtnevy district, Dnepropetrovsk),
- AFFILIATE «KHARKIVSKY AVTOCENTER» (315 Shevchenko str., Kharkiv),
- AFFILIATE «AVTOCENTER RADAR» (14 Striyska str., Sokolniki vil., Pustomytivsky district, Lviv region),
- AFFILIATE «AVTOCENTER NA BORSHAGIVTSI » (2 Velyka Kiltseva str., Petropavlivska Borshagivka vil., Kyevo-Svyatoshinky district, Kyiv region),
- AFFILIATE «AVTOCENTER NA KILTSEVIY» (2 Tolstogo str., Sofiyivska Borshagivka vil,).
Simplification of the legal structure will not affect the further activity of the dealer centers located at the above addresses.
There was taken the decision on reorganization of associated company «Galychyna-Avto» (34а Donetska str., Lviv) and Lviv Regional center «Zakhid-Avto» (329 Shevchenko str., Lviv) through their joining to the Company.
Besides, there was decided to develop actively other profitable trends of activities, as namely - sales of agricultural products, oil products and other in order to compensate negative influence of crisis on car market.