ROS » Topics » 33. SUBSEQUENT EVENTS

This excerpt taken from the ROS 20-F filed Jun 17, 2009.

33. SUBSEQUENT EVENTS

        In January 2009, OJSC Rostelecom in partnership with mobile operator OJSC Megafon won a tender for sponsorship of XXII Winter Olympic Games and XI Winter Paralympic Games 2014 in

The accompanying notes are an integral part of these consolidated financial statements.

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OJSC Rostelecom

Notes to Consolidated Financial Statements as of and for the year ended December 31, 2008 (Continued)

33. SUBSEQUENT EVENTS (Continued)


Sochi in the category of Telecommunication. According to the agreement, the sponsorship contribution amounted to USD 260 million and should be charged to each sponsor in the amount of USD 130 million. Half of this amount shall be paid by cash and other half shall be contributed in free services. In return, each partner will obtain exclusive rights to use Olympic logo in its advertising and other activity.

        In May 2009, the Group's shareholders authorized dividends for the year ended December 31, 2008 in the amount of 2,121.6.

 
  Dividends   Dividends
per share, Rbl
 

Ordinary Shares, Rbl 0.0025 par value

    1,414.4     1.9410  

Preferred Shares, Rbl 0.0025 par value

    707.2     2.9124  
             

Total

    2,121.6        
             

        The withholding tax on dividends amounts to 191.

The accompanying notes are an integral part of these consolidated financial statements.

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TABLE OF CONTENTS
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
PART I
SIGNATURES
OJSC ROSTELECOM CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2008 INDEX
STATEMENT OF DIRECTORS' RESPONSIBILITIES
Report of Independent Registered Public Accounting Firm
Report of Independent Registered Public Accounting Firm
OJSC Rostelecom CONSOLIDATED BALANCE SHEETS (In millions of Russian Rubles)
OJSC Rostelecom CONSOLIDATED STATEMENTS OF INCOME (In millions of Russian Rubles unless otherwise stated)
OJSC Rostelecom CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions of Russian Rubles)
OJSC Rostelecom CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (In millions of Russian Rubles)
OJSC Rostelecom Notes to Consolidated Financial Statements as of and for the year ended December 31, 2008
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