API AGM Vote Recommendations 2017

Dear shareholders,
The Association of Institutional Investors (API) has opened the season of corporate meetings of Russian companies' shareholders.
We encourage you to take part in voting at the meetings - your vote, combined with the votes of other professional investors, can and does have a substantial impact on the final decisions made on key agenda items (election of members of the Board of Directors, interested-party transactions, major deals, etc.).
Please see the AGM voting recommendations and research notes. 
Please note that, as resolved by the API Board of Directors in September 2014, all candidates for seats on the Boards of Directors (Supervisory Boards) of Russian issuers backed by the API must sign an Independent Director's Declaration, according to which they make a public commitment to meet the applicable independent director criteria. The Declaration is an annex to the specially developed Regulation on the API Interaction with candidates to the Boards of Directors (Supervisory Boards) of Russian issuers and with independent directors backed by the API.
More recommendations will be added to the list once they appear.
API AGM voting recommendations:
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