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Main About Company For Shareholders Procedures for Purchasing and Selling Stock

Procedures for Purchasing and Selling Stock

Instructions on Purchasing and Selling Stock of Vision International People Group

1. Dear investor, please read this instruction thoroughly;
2. After concluding a contract with a broker and opening a brokerage account stock purchase and sell transactions can be initiated by the Cyprus Stock Exchange.

stock purchasing and selling at the Cyprus Stock Exchange

In order to conclude a stock purchase and sell transaction an investor should:

  • ask his/her broker about the necessity to open a brokerage account and open a brokerage account, if required; also, at opening a brokerage account every investor gets from his/her broker the copy of the contract signed by him and of the additional agreement to it stating the requisites for transferring funds.
  • transfer of the required funds to his/her brokerage account. The funds are transferred through a bank. The funds transfer procedure is similar to the commission transfer procedure on opening the brokerage account. The funds are to be transferred to the broker's bank account requisites as stated in the additional agreement to the contract (provided together with the contract):

Beneficiary's bank
Bank name: BANK OF CYPRUS Ltd.
Address: 51 Stassinos Street, Ayia Paraskevi, 2002 Strovolos Cyprus
SWIFT Code: BCYPCY2N
Beneficiary's account No. CY31 0020 0157 0000 0040 0501 2248
Beneficiary
Beneficiary's name:
The Cyprus Investment and Securities Corporation Ltd.
Address: Eurolife House 4 Evrou Street P.O. BOX 20597 CY-1660 NICOSIA
Beneficiary's account No. 0157-40-050122-48


We remind you that for effecting any operations in a bank you need to have:
• passport;
• funds;
• personal bank account contract;
• copy and original of the contract and additional agreement to it for the currency control purposes for RF nationals.
• copy and original of taxation body registration certificate (INN) for RF nationals.
• issue an order (application) to your broker on purchasing/selling the stock.


The order should be issued in the form recommended by the CISCO broker - SHARE TRADING INSTRUCTION FORM (provided by the broker) directly to the broker's office (in Cyprus). Send, together with the order, a copy of application for the foreign currency transfer as the confirmation of transferring the funds needed for purchasing the stock.

Contact information (see here and below):
Cyprus Investment Securities Corporation (CISCO), Cyprus
Phone: +357 22 881707 Fax: +357 22 338488

Note: FOR PURCHASING THE STOCK:
1. State the current date.
2. Write your name in English (as given in the Contract in English) in the NAME line.
3. Write the number of your passport in the PASSPORT NUMBER line.
4. Write your fax number (if any) for the broker's confirmation of your order in the Fax No. (for confirmation of order) line.
5. Write your phone number (if any) in the Tel. No. line.
6. Write your e-mail address (if any) in the E-mail line.
7. State the stock purchase sum (in figures) in the TOTAL SUM OF PURCHASE line.
8. State the top purchase price for one share.
9. State the time period for executing the order.
10. Sign your name in the SIGNATURE line.

FOR SELLING THE STOCK:
1. State the current date.
2. Write your name in English (as given in the Contract in English) in the NAME line.
3. Write the number of your passport in the PASSPORT NUMBER line.
4. Write your fax number (if any) for the broker's confirmation of your order in the Fax No. (for confirmation of order) line.
5. Write your phone number (if any) in the Tel. No. line.
6. Write your e-mail address (if any) in the E-mail line.
7. State the number of shares to be sold (in figures) in the Number of shares to be sold line.
8. State the lowest selling price of one share.
9. State the time period for executing the order.
10. Sign your name in the SIGNATURE line.

  • The investor defines on his/her own the transaction parameters for the broker, in particular, at what price the stock is to be sold/purchased, in what numbers, etc. The current stock prices can be seen:
    - at the Cyprus Stock Exchange website at http://www.cse.com.cy/en/default.asp by entering the Vision International People Group PL code - VIP - in the Search for a Quote field.

The broker charges the following commission for executing the order:
Stock purchase

  • Duty: 0.1%;
  • Commission: 0.75%, minimal amount is 6 euro;
  • CISCO online: charge 0.4%, minimal amount is 2 euro;

Note: Above charges are added to the stock purchase price.

Stock sale

  • Tax rate:

• For individuals: 0.6%;
• For legal entities: 0.1%.

  • Commission: 0,75%, minimal amount is 6 euro;
  • CISCO online: charge 0.4%, minimal amount is 2 euro;

Note: Above charges are deducted from the stock sale proceeds.

  • get the broker's confirmation of your order execution, as a rule, via the same communication channel that you have used for sending your order;
  • after selling the stock the proceeds will be deposited in your brokerage account. The funds can be used for subsequently purchasing stock or transferred to the stockholder's other bank account. For transferring the funds from the brokerage account into the personal bank account it is necessary to complete the form for transferring the transaction proceeds stating the personal bank account requisites and send it to the broker (the form should be requested from the broker.)
  • After purchasing the stock it will be deposited in your brokerage account.

Answers to questions/solutions for problems:

  1. You can find samples of all forms at the Cyprus Stock Exchange website at www.cse.com.cy/en/default.asp.
  2. You can learn in more detail about operations of the Cyprus Stock Exchange by visiting its website at www.cse.com.cy/en/default.asp (in English).
  3. You can find out more about operations of a broker by visiting the www.cisco-online.com.cy website (in English).
  4. You can find the Company's data, its financial reports and other information at the Company's corporate website - www.vipgpl.com.


Broker's contact information
CYPRUS INVESTMENTS AND SECURITIES CORPORATION LTD (CISCO)
Address: 4 Evrou Str., Εurolife House, 2003 Strovolos, Nicosia
Phone No.: 00357 22 881700
Fax No.: 00357 22 338488
e-mail: info@cisco.bankofcyprus.com
website: www.cisco-online.com.cy


Name
E-mail Address
Tel. number
CISCO BROKERS
Demetris Christophorou demetris.christoforou@cisco.bankofcyprus.com

+357 22 121842
Nicolas Phocaides
mailto:nicolas.phocaides@cisco.bankofcyprus.com

+357 22 121836
BROKERS’ FRONT DESK
Maria Stylianou
mailto:mstylianou@cisco.bankofcyprus.com

+357 22 121707
Maria Panayi maria.panayi@cisco.bankofcyprus.com

+357 22 121837
BACK OFFICE
Eleftheria Koumouli eleftheria.koumouli@cisco.bankofcyprus.com

+357 22 121862
Fax number+357 22 338488


Warning to shareholders!

Shareholders should keep in mind that, pursuant to Subclause 1 Clause 3 Article 208 of the Russian Federation Taxation Code, the income received from sources beyond the Russian Federation includes dividends and interest received from foreign organizations, except for the interest received from Russian organizations, as well as the interest received from Russian individual entrepreneurs and/or foreign organizations relevant to operations of their permanent representative offices in the Russian Federation.

Pursuant to Article 209 of the RF Taxation code, subject to taxation is the income received by taxpayers from sources in the Russian Federation an/or from sources beyond the Russian Federation – for individuals being tax residents.

Due to which the income of an individual being the tax resident of the Russian Federation (RF nationals and individuals actually present in the Russian Federation territory for at least 183 days in a calendar year) received from a foreign company as dividends is subject to taxation as the personal income at the rate of 9% (Clause 4 Article 224 of the Code).

Since all taxpayers – the Russian Federation tax residents, receiving their income from sources beyond the Russian Federation calculate by themselves the amount of tax payable on such income pursuant to Clause 2 Article 228 of the Code, such persons are to submit their tax declarations to the taxation bodies at their residential location by April 30 of the year following the expired taxation period, pursuant to Clause 1 Article 228 of the Code.

We want to remind you that previously the rate was 6%. The 2004 dividends actually paid in 2005 are taxed at the new rate of 9% (the tax should be paid at the rate in effect at the moment of receiving the income.) The 2006 dividends paid in 2007 are also taxed at the 9% rate.