24th Mar 2011 13:00
NOVATEK BOARD ?F DIRECTORS APPROVES AGENDA FOR ANNUAL GENERAL MEETING OF SHAREHOLDERS
Moscow, 24 March 2011. OAO NOVATEK (the "Company") today announced the results of its Board of Directors (the "Board") meeting in preparation for the Company's upcoming Annual General Meeting of Shareholders ("AGM"). The Board reviewed each of the Board Committees' reports and recommendations and gave preliminary approval to the Company's Annual Report for 2010.
The Board has approved the following agenda for the Company's AGM:
1. To approve the Company's Russian statutory accounts and annual report for the year ended 31 December 2010, and the allocation of profit and loss, including approval of the final dividend, payable to shareholders based on OAO NOVATEK's 2010 Russian statutory results;
2. Election of members of the Board of Directors of OAO NOVATEK;
3. Election of members of the Revision Commission of OAO NOVATEK;
4. To appoint the Company's auditor for 2011;
5. To approve the remuneration to members of OAO NOVATEK's Board of Directors;
6. To approve the remuneration to members of OAO NOVATEK's Revision Commission; and
7. To approve a related party transaction between OAO NOVATEK and OAO Gazprom - additional agreement to the Gas Delivery Agreement.
The Company's AGM will take place on 28 April 2011. Shareholders of record at the close of business on the 22 March 2011 will be entitled to participate in the Company's AGM.
The Board also discussed the optimization of the Management Committee's functions and approved a reduction in its size based on the recommendation of the Chairman of the Management Committee. The Management Committee approved by the Board is comprised of the following members:
1. Leonid v. Mikhelson - Chairman of the Management Committee.2. Vladimir A. Baskov - Deputy Chairman of the Management Committee.3. Mark A. Gyetvay - Deputy Chairman of the Management Committee.4. Tatyana S. Kuznetsova - Deputy Chairman of the Management Committee.5. Iosif L. Levinzon - Deputy Chairman of the Management Committee.6. Mikhail V. Popov - Deputy Chairman of the Management Committee.7. Alexander M. Fridman - Deputy Chairman of the Management Committee.8. Kirill N. Yanovskiy - Member of the Management Committee.
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For further information, please visit www.novatek.ru or contact:
| Press Service+7 (495) 721 2207[email protected]
| Investor Relations+7 (495) 730 6013[email protected] |
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OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company's upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 83% of Russia's natural gas production and 16% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. The Company's shares are listed on the Russian Trading System (RTS), MICEX Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol 'NVTK' and on the NASDAQ PORTAL System as Rule 144A GDR under the ticker symbol "NVATY".
Copyright Business Wire 2011
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