At Motor Sich’s (MSICH: BUY) AGM yesterday, the company’s shareholders confirmed their plans to place a 5-15% stake in 2007. MSICH’s CEO Vyacheslav Boguslayev said the company wants to find not only investors, but strategic partners. The company’s shareholders also agreed to pay USD 495 ths in dividends from their 2006 profits – roughly USD 0.29 per share. A dividend yield of 0.25%. Additionally the company reported that its net sales grew 14% yoy while net profits slipped 30% yoy. Motor Sich also confirmed its agreement with Deutsche Bank for the placement of GDR with a 10:1 ratio. Inna Perepelytsya: The drop in MSICH’s net income is connected to the purchase of parts to begin mass producing the AN-148, which was certified in February of 2007. We believe these costs will be made up for by serial production of An-148 engines. The company plans to raise its revenues by 16-17% to roughly USD 295 mln in 2007. As of the AGM, the company claimed it had signed contracts for 85% of this sum.