OTKRITIE Finance Cyprus appoints independent directors

OTKRITIE Financе Cyprus Ltd announced the appointment of Independent Directors to the Board of Directors made at a regular meeting of the Board on July 19, 2008.

The new Directors include: Christodoulos Christodoulou, Panayiotis Demetriou and Mikhail Jernov. The appointments were unanimously approved by the current Directors of the Company, composed of Badri Gobechiya, Kumar Dipak, Kostas Shiatis. Following these appointments the elected Independent Directors will commence the implementation of the Company’s strategy. 

The Directors also unanimously elected Andrey Babenko as a member of the Board of Directors of the Company and appointed him the fund manager at the Company in charge of OTKRITIE UES Capital Partners Fund PLC (“OUCP Fund PLC”) and Head of the Moscow representative office of the Company.