31st Aug 2012 07:00
RESULTS OF NOVATEK BOARD ?F DIRECTORS
Moscow, 31 August 2012. OAO NOVATEK ("NOVATEK") today announced the results of its Board of Directors ("the Board") meeting held on 30 August 2012 in Salekhard (Yamal- Nenets Autonomous District of Russia).
The Board decided to convene an Extraordinary General Meeting of Shareholders ("EGM") in the form of absentee voting on 16 October 2012, and to approve the following Agenda of the EGM:
1. On the Payment Of Dividends for the First Half 2012; and
2. On the Approval of a related party transaction.
The record date for the EGM is 10 September 2012.
The Board recommended to the EGM to approve interim dividend payment for the first half 2012 in the amount of RR 9,108,918,000, which is RR 3.00 per one ordinary share or RR 30.0 per one GDR. This represents a 20.0% increase compared to the six months 2011.
The EGM will also consider a long-term contract for the procurement of up to 70 billion cubic meters of natural gas from OAO Sibur Holding during the period 2013 to 2022.
Due to the expiration of powers of the Management Board, the Board of Directors resolved to form a new Management Board of eight (8) members for the next five years and to elect the following members to the Management Board:
Vladimir A. Baskov, Deputy Chairman of the Management Board;
Alexander M. Fridman, Deputy Chairman of the Management Board;
Mark A. Gyetvay, Deputy Chairman of the Management Board;
Tatyana S. Kuznetsova, Deputy Chairman of the Management Board - Director of Legal Department;
Iosif L. Levinzon, Deputy Chairman of the Management Board;
Mikhail V. Popov, First Deputy Chairman of the Management Board - Commercial Director; and
Kirill N. Yanovskiy, Member of the Management Board.
Leonid V. Mikhelson will serve as the Chairman of the Management Board as resolved according to the decision of the Annual General Meeting of Shareholders dated 27 April 2012.
***
For further information, please visit www.novatek.ru or contact:
| Press Service | Investor Relations | ||||||
| +7 (495) 721 2207 | +7 (495) 730 6013 | ||||||
|
|
***
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 84% of Russia's natural gas production and approximately 17% 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 in Russia on MICEX-RTS Stock Exchange and the London Stock Exchange (LSE) under the ticker symbol "NVTK".
Copyright Business Wire 2012
Related Shares:
NVTK.L