According to the report published on Severnaya Kazna’s official website on April 26, 2007, the bank keeps redistributing its shares among the stockholders. There are 40 of them at the moment, with two shareholders missing from the list as of yet: Russian Tax Association headed by Igor Teushchakov (the company’s share in Severnaya Kazna’s capital used to come to 6.447%, was later reduced to 3.438% and now dropped to.105%; Mr. Teushchakov’s share, however, amounts to 1.52%) and Econometrics headed by Alexander Frolov since mid-March (the company’s share amounts to .951%).

All in all, the number of the bank’s stockholders dropped from 45 to 41 between March 13, 2007 and April 25, 2007. It all started with the board member Rais Garigullin selling his 5.002% share on March 13, 2007 and another BOD member Pavel Chernavin selling his share holding (19.028%) on March 14, 2007. Tatiana Lapkina, Iraida Dushko, and Polina Shishkina offered their share holdings (amounting to .722%, .280%, and .270%, respectively) for sale as well.

These changes in the number of Severnaya Kazna’s shareholders have been going on since October 2006. One of the earliest transactions this year occurred on January 24, 2007 when BOD member Semen Matochkin sold his .031% share holding to chairman Vladimir Frolov.