On April 20, the general meeting of shareholders of OJSC "Lutsk Cardboard and Roofing Material Plant" was held, at which 89.23% of shareholders' votes were registered. The agenda included 5 items: the report of the board on the results of the company's financial and economic activity for 2003, its approval and determination of the main directions of activity for 2004; the report of the supervisory board on its work for 2003 and its approval; approval of the report and conclusions of the audit commission on its work for 2003; approval of the annual report and balance sheet for 2003; distribution of profit based on the results of work in 2003 and approval of profit distribution standards for 2004. However, at the request of a shareholder of the enterprise owning more than 10 percent of the shares - LLC "West-invest" - 2 more items were added to the agenda: on the recall/election of members of the enterprise's supervisory board and on the recall/election of members of the audit commission of OJSC "Lutsk Cardboard and Roofing Material Plant". As a result of consideration of the items, the results of the company's financial and economic activity for 2003 were recognized as satisfactory. The profit received by OJSC "Lutsk Cardboard and Roofing Material Plant" in 2003 (0.8 thousand UAH) was decided to be directed toward covering the enterprise's losses from previous years (7.8 million hryvnias as of 01.01.2004). Also, a representative of the State Property Fund was recalled from the supervisory board, since in 2003 the Fund divested its ownership stake in the enterprise. Proposals to introduce a vice-president of LLC "West-invest" to the supervisory board and to recall a representative of the corporation "Ukrbudmaterialy" from its composition did not receive the required number of votes. Also, the proposal to introduce a representative of the company "Strategy" to the audit commission did not receive the required number of votes. Reference: OJSC "Lutsk Cardboard and Roofing Material Plant" is a monopolist on the Ukrainian market for the production of soft roofing materials (roofing felt). Its share of the Ukrainian market is about 80 percent. In 2003, the enterprise produced 27.5 million square meters of roofing felt, which is 15.7% more than in 2002 (25 million square meters). The share capital of the enterprise consists of 52,774,800 shares with a nominal value of 0.25 UAH per share. The charter capital amounts to 13,193,700.00 UAH. The shareholders of OJSC "Lutsk Cardboard and Roofing Material Plant" are 5,756 individuals and 13 legal entities.