The Board of Directors of OJSC Kazanskiy Elektrotekhnicheskiy Zavod made a decision to hold an extraordinary general meeting in absentia on September 4, the company informed.
The record date for the meeting is July 7.
The shareholders will consider an increase in the company's authorized capital and changes to the corporate charter, approve a number of interested-party transactions.
OJSC Kazanskiy Elektrotekhnicheskiy Zavod (KETZ, English: Kazan Electrotechnical Plant, tax number: 1659052901) was established resulting from a spin-off from the Kazan-based state unitary enterprise Sviyaga of all capacities required to execute Sviyaga's state defense order. KETZ is the only manufacturer of naval friend-or-foe identification systems in Russia.
According to the DataCapital information retrieval system, RAS net profit of KETZ for 2013 decreased by 25.72% to RUB 7.122 million from RUB 9.588 million in 2012. Revenue increased by 51.28% to RUB 1.776 billion from RUB 1.174 billion, sales profit by 49.54% to RUB 121.015 million from RUB 80.926 million, pre-tax profit decreased by 24.96% to RUB 7.553 million from RUB 10.065 million.