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V.Potanin and M.Prokhorov toSet Procedures for Further Management ofJoint Assets

The shareholders ofKM Invest signed anagreement and modified founding documentsofthe company and its subsidiaries inorder toset procedures for management ofthe assets under V.Potanin and M. Prokhorov joint ownership. The shareholders established the company’s Board ofDirectors, electing representatives ofboth investors with equal representation. V. Potanin was elected chairman ofthe BoD ofKM Invest and R. Akopov was appointed acting director general. KMInvest shareholders set procedures for further management ofjoint assets and approved the Fund’s closing procedure, aswell asthe sale ofselected assets, which could beinitiated byany ofthe shareholders. The KMshareholders agreed that V. Potanin would buy back 100% ofInterros Holding Company from the Fund.

For reference:
ZAO KMInvest isa fund, which holds the joint investments ofV.Potanin and M. Prokhorov. Its market value isabout $11 billion. These assets include 8% ofshares inMMCNorilsk Nickel, 7.6% in Polyus Gold, 69% ofRosbank, 55.6% of Open Investments, 100% ofProf-Media, 100% ofInterros Estate, 30.4% of Power Mashines, 98.1% of Roza Khutor, 87.7% ofthe Soglassye insurance company, 25.8% ofRUSIA Petroleum and other assets and funds.