QUARTERLY REPORT of the Open Joint Stock Company Far East
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APPROVED By the Board of Directors of the OJSC Far East Telecommunications Company Minutes dated February 12, 2004 No., 24 QUARTERLY REPORT Of the Open Joint Stock Company Far East Telecommunications Company Issuer’s code 30166− F For Quarter IV of 2003 Issuer’s location: 57 Svetlanskaya St., Vladivostok 690950 Information in this quarterly report shall be subject to disclosure in accordance with RF Securities Laws Director General ____________ I.V. Zabolotny Date "____" _________________ 20 ___ signature name Chief Accountant ____________ A.D. Kardashov Date "____" _________________ 20 ___ signature name seal Contact person: Alexey M. Skrylnikov Telephone: (4232) 402-801 Fax: (4232) 406-449 E-mail: [email protected] Web page http://www.dsv.ru/child.php?id=19 Disclosing information containing in the present quarterly report LIST OF CONTENTS 1 INTRODUCTION 2 I. BRIEF INFORMATION ABOUT MEMBERS OF THE ISSUER MANAGEMENT BODIES, INFORMATION ABOUT BANK ACCOUNTS, AUDITOR, APPRAISER AND FINANCIAL CONSULTANT OF THE ISSUER AS WELL AS ABOUT OTHER PERSONS SIGNING THE QUARTERLY REPORT 1.1. MEMBERS OF THE ISSUER MANAGEMENT BODIES 1.2. INFORMATION ABOUT ISSUER’S BANK ACCOUNTS 1.3. INFORMATION ABOUT ISSUER’S AUDITOR (AUDITORS) 1.4. INFORMATION ABOUT ISSUER’S APPREISER 1.5. INOFRMATION ABOUT ISSUER’S CONSULTANTS 1.6. INFORMATION ABOUT OTHER PERSONS SIGNING QUARTERLY REPORT II. MAIN INFORMATION ABOUT ISSUER'S FINANCIAL AND ECONOMIC CONDITION 39 2.1. INDICES OF ISSUER’S FINANCIAL AND ECONOMIC ACTIVITY 2.2. ISSUER’S MARKET CAPITALIZATION 39 2.3. ISSUER’S LIABILITIES 2.4. PURPOSES OF ISSUE AND USE OF FUNDS OBTAINED AS A RESULT OF ISSUING ISSUE SECURITIES 39 2.5. RISKS ASSOCIATED WITH ACQUISITION OF ISSUE SECURITIES PLACED III. DETAILED INFORMATION ABOUT THE ISSUER 3.1. HISTORY OF ISSUER FORMATION AND DEVELOPMENT 46 3.2. MAIN ISSUER’S ECONOMIC ACTIVITY 3.4. PLANS FOR ISSUER’S FUTURE OPERATION 3.5. PARTICIPATION OF THE ISSUER IN INDUSTRIAL, BANK AND FINANCIAL GROUPS, HOLDINGS, CONCERNS AND ASSOCIATIONS 3.6. ISSUER’S SUBSIDIARIES 62 3.7. NATURE, STRUCTURE AND VALUE OF ISSUER’S FIXED ASSETS, INFORMATION ABOUT PLANS OF THEIR PURCHASE, REPLACEMENT, RETIREMENT AS WELL AS ALL FACTS OF ENCUMBRANCES OF ISSUER’S FIXED ASSETS 62 IV. INFORMATION ABOUT FINANCIAL AND ECONOMIC ACTIVITY OF THE ISSUER 4.1. RESULTS OF FINANCIAL AND ECONOMIC ACTIVITY OF THE ISSUER 4.2. ISSUER’S LIQUIDITY 68 4.3. SIZE, STRUCTURE AND SUFFICIENCY OF ISSUER’S CAPITAL AND CURRENT ASSETS 4.4. INFORMATION ABOUT ISSUER POLICY AND EXPENDITURES IN TERMS OF SCIENTIFIC AND TECHNICAL DEVELOPMENT, LICENSES, PATENTS, NEW DEVELOPMENTS AND RESEARCHES 71 4.5. ANALYSIS OF DEVELOPMENT TRENDS OF ISSUER’S PRINCIPAL ACTIVITY 71 V. DETAILED INFORMATION ABOUT MEMBERS OF COMPANY MANAGEMENT BODIES, ISSUER’S BODIES OF FINANCIAL AND ECONOMIC ACTIVITY CONTROL AND BRIEF INFORMATION ABOUT ISSUERS EMPLOYEES 75 5.1. INFORMATION ABOUT STRUCTURE AND POWER OF ISSUER’S MANAGEMENT BODIES 75 5.2. INFORMATION ABOUT ISSUER’S MANAGEMENT BODIES’ MEMBERS 84 5.3. INFORMATION OF REMUNERATION, BENEFITS AND/OR RECOVERY OF EXPENDITURES ON EACH ISSUER’S CONTROL BODY 5.4. INFORMATION OF STRUCTURE AND COMPETENCE OF BODIES IN CHARGE OF CONTROL OVER ISSUER’S FINANCIAL AND ECONOMIC ACTIVITY 5.6. INFORMATION OF REMUNERATION, BENEFITS AND/OR RECOVERY OF EXPENDITURES OF BODY IN CHARGE OF CONTROL OVER ISSUER’S FINANCIAL AND ECONOMIC ACTIVITY 110 5.7. DATA OF NUMBER AND GENERALIZED DATA OF OFFICERS (EMPLOYEES’) EDUCATION AND STAFF AS WELL AS CHANGE OF ISSUER’S STAFF NUMBER VI. INFORMATION ABOUT ISSUER’S SHAREHOLDERS AND TRANSACTIONS MADE BY THE ISSUER WITH INTEREST 6.1. INFORMATION ABOUT TOTAL NUMBER OF ISSUER’S SHAREHOLDERS 112 6.2. INFORMATION ABOUT ISSUER’S SHAREHOLDERS HOLDING AT LEAST 5 PER CENT OF ORDINARY SHARES AS WELL AS INFORMATION ABOUT SHAREHOLDERS OF SUCH PERSONS HOLDING AT LEAST 20% OF THE AUTHORIZED (SHARED) CAPITAL OR AT LEAST 20% OF ORDINARY SHARES. 112 6.3. INFORMATION ABOUT STATE OR MUNICIPAL INSTITUTION SHARE IN THE ISSUER’S AUTHORIZED CAPITAL, ABOUT SPECIAL RIGHT (GOLDEN SHARE) 6.4. INFORMATION ABOUT RESTRICTIONS OF SHARE IN THE ISSUER’S AUTHORIZED CAPITAL (SHARED FUND) 113 6.5. INFORMATION ABOUT ALTERATIONS OF MEMBERSHIP AND SIZE OF SHARES OF ISSUER’S SHAREHOLDERS HOLDING AT LEAST 5 PER CENT OF THE AUTHORIZED CAPITAL OR AT LEAST 5 % OF ORDINARY SHARES. 113 6.6. INFORMATION ABOUT TRANSACTIONS MADE BY THE ISSUER WITH INTEREST 115 6.7. INFORMATION ABOUT ACCOUNTS RECEIVABLE 115 VII. ISSUER’S ACCOUNTING AND ANOTHER FINANCIAL INFORMATION 116 7.1. ISSUER’S ANNUAL ACCOUNTING 116 7.2. QUARTERLY ACCOUNTING OF THE ISSUER FOR THE LAST COMPLETED ACCOUNTING QUARTER 116 7.3. CONSOLIDATED ACCOUNTING OF THE ISSUER FOR THREE LAST COMPLETED FISCAL YEARS OR FOR EACH COMPLETED FISCAL YEAR 116 7.4. INFORMATION ABOUT TOTAL EXPORT AMOUNT AS WELL AS ABOUT EXPORT SHARE IN THE TOTAL VOLUME OF SALES 116 7.5. INFORMATION ABOUT ESSENTIAL CHANGES IN THE ISSUER’S ASSETS AFTER DATE OF LAST COMPLETED FISCAL YEAR EXPIRY. 117 7.6. INFORMATION ABOUT ISSUER’S PARTICIPATION IN TRIALS, IF SUCH PARTICIPATION MAY ESSENTIALLY AFFECT FINANCIAL AND ECONOMIC ACTIVITY OF THE ISSUER 117 VIII. ADDITIONAL INFORMATION OF THE ISSUER AND ISSUE SECURITIES PLACED BY IT 118 8.1. ADDITIONAL INFORMATION OF THE ISSUER 118 8.2 INFORMATION OF ISSUER’S EACH CATEGORY (TYPE) OF SHARES 134 8.3. INFORMATION OF ISSUER’S PREVIOUS SECURITIES ISSUES EXCEPT FOR ISSUER’S SHARES 135 8.4 INFORMATION OF PERSON (PERSONS) PRVIDING SECURITY ON ISSUED BONDS 142 8.5. TERMS OF SECURITY OF OBLIGATIONS FULFILLEMNT ON ISSUE BONDS 142 8.6. INFORMATION OF ORGANIZATIONS KEEPING RECORDS OF RIGHTS FOR ISSUER’S ISSUE SECURITIES 143 8.7. INFORMATION OF LEGAL ACTS REGULATING CAPITAL IMPORTS AND EXPORTS ISSUES THAT MAY AFFECT PAYMENT OF DIVIDENDS, INTEREST AND OTHER PAYMENTS TO NON-RESIDENTS 143 8.8. DESCRIPTION OF PROCEDURE FOR TAXATION OF RETURNS ON ISSUER’S PLACED AND BEING PLACED SECURITIES 8.9. INFORMATION OF DECLARED (ACCRUED) AND PAID DIVIDENDS ON ISSUER’S SHARES AS WELL AS OF ISSUER’S BOND YIELD 146 8.10. ANOTHER INFORMATION 153 ATTACHMENT 1. ATTACHMENT 2. ATTACHMENT 3. Introduction а) Full and abbreviated name of the Issuer Открытое акционерное общество «Дальневосточная компания электросвязи» (hereinafter referred to as the Company) Open Joint Stock Company Far East Telecommunications Company ОАО «Дальсвязь» OJSC FETEC б) Location of the Issuer: 57 Svetlanskaya St., Vladivostok State Post Office 690950 в) Contact telephone numbers: (4232) 402-801, 406-449 E-mail: [email protected] г) Website of the Issuer or any website where quarterly report of the Issuer is published: http://www.dsv.ru/child.php?id=19 д) Main information about issue securities placed by the Issuer Information about securities issued As of the present quarterly report approval the Issuer submitted documents for registration of securities as follows to the RF Securities Committee: 1. Kind: shares Category: preferred (this type is not stipulated by the Articles of Association) Form: registered non-documentary Number of securities to be issued: 31 168 901 (thirty one million one hundred sixty eight thousand ninety one) pieces. Par value of each security of the issue: 20 (twenty) rubles Issue period and procedure: Issue method – Conversion of shares to the shares of the same category (type) with bigger par value Issue date (date of issue start is the same as date of issue end) (conversion date): the first working day after expiry of 10 (ten) calendar days after date of state registration of shares’ issue Issue procedure: Conditions and procedure of preferred shares’ issue are determined according to requirements of the Federal Law About Joint Stock Companies № 208-ФЗ dated 26.12.1995 (edited on 27.02.2003.), Federal Law about Securities Market № 39-ФЗ dated 22.04.1996 (edited on 28.12.2002.), clause .V of the Order of the RF Federal Securities Committee dated 18.06.2003 № 03-30/пс, item 3.2, item 7.4.2 and item 7.4.3 of the Provision about Keeping Register of Registered Securities approved by the Order of Russia Federal Securities Committee dated 02.10.1997 № 27 (edited on 20.04.1998.), as well as Resolution of the Annual General Meeting of Shareholders of the Open Joint Stock Company Far East Telecommunications Company dated June 11, 2003 (Minutes No., 12). Issuing securities by conversion the Registrar shall: - To enter to the Register information about forthcoming issue of securities in accordance with item 3.2 3 of the Provision about Keeping Register of Registered Securities; - To enter in an account of issue of the Issuer preferred shares in which Issuer’s preferred shares are to be converted in number specified in the mentioned resolution about securities issue; - To convert preferred shares by converting respective number of securities of new issue from Issuer’s account of issue to accounts of registered persons and by converting securities which convert to securities of the present issue from accounts of registered persons to the account of issue of the Issuer; - To cancel Issuer’s preferred shares to be converted to the securities of the present Issue; - To verify number of preferred shares issued with number of securities entered to accounts of registered persons; The Registrar shall enter entries about conversion in respect of the whole issue of securities. Entries about conversion of the whole present issue of preferred shares shall be entered to the Register on the first working day after 10 (ten) calendar days after state registration of shares’ issue under information of the Register as of such date. Issue price and procedure: not