Vision to move from CSE’s Main to Alternative

Vision International People Group Public Limited (VIP) announced that the Company’s Annual General Meeting, which was convened on September 28 in Moscow approved the payment of a final dividend for 2006 as well as a proposal by the Board to shift from the CSE’s Main to the Alternative Market.
The final dividend totaling US$0,118 per share, or US$8,850,000 be paid out of the profits of the Company for the year ended 31st December, 2006. The payment date of the dividend was approved as 26th October, 2006.

The cum-dividend date shall be the 5th of October, 2007. The dividend will also be paid to investors who will hold securities on the basis of an off-floor transfer, which will be completed on the cum-dividend date. The ex dividend date shall be the 8th of October, 2007.

The AGM approved the re-appointment of Roberto Piona as Executive Director and Messrs. Pavel Dubrov and Michael G. Colocassides as Non-Executive Independent Directors, as well as the appointment of Michael G. Colocassides as Senior Non-Executive Independent Director and John Ioannides as Deputy Chairman of the Company was approved.
Shareholders also approved the proposal presented by Executive Director Roberto Piona and as approved by the pertinent Meeting of the Board of Directors, as well as the authorization to the Members of the Board of Directors and the Compliance Officer of the Company to shift out of the Main Market of the Cyprus Stock Exchange to the Alternative Market, authorising company officers to take all necessary steps to put into effect this decision.