Pjsc Tatneft Regulatory News (ATAD)

1 Feb 2008 07:17

O.A.O. Tatneft01 February 2008 1 February 2008 On 31 January 2008 OAO Tatneft issued the following press-release: Tatneft's Board approves nominations to the Board; date for annual shareholders meeting At the meeting held on January 31, 2008 the Board of Directors reviewed the 2007budget performance results of OAO Tatneft (the "Company") and approved theCompany's budget for February 2008. The Board summarized the Tatneft's Internal Audit Department performance during2007 and approved the 2008 Activity Plan for the Department operations. The Company's progress on implementation of the two investment projects that areunderway in the ALABUGA Special Economic Zone in Tatarstan was reported anddiscussed at the meeting. Nnamely, the fibreglass and its products manufactureproject, as well as the project for compounds production for an automotiveindustry. In order to implement the first project, OAO Tatneft andPreiss-Daimler Group established Preiss-Daimler Tatneft - Alabuga Fibre GlassLimited Liability Company on a 50/50 per cent basis. To implement the secondproject, it was agreed to establish a joint venture with Basell. It isanticipated that both projects would start their production in 2009 and the fullcapacity is expected to be reached in 2011. The Board considered the proposals submitted for the nominations to the Board ofDirectors and the Revision Committee as well. The Boad approved the followingcandidates to the Board of Directors of the Company proposed by shareholders forthe election at the annual shareholders meeting of the Company: 1. Shafagat Fakhrazovich TAKHAUTDINOV - General Director of OAO Tatneft; 2. Valery Pavlovich VASILYEV - Minister of Land and Property Relations of theRepublic of Tatarstan; 3. David William WAYGOOD - CEO of Waygood Limited Company; 4. Maria Leonidovna VOSKRESENSKAYA - CEO of Brentcross Holding Ltd.; 5. Radik Raufovich GAIZATULLIN - Minister of Finance of the Republic ofTatarstan; 6. Sushovan GHOSH - Managing Director of SGI Enterprises Ltd; 7. Nail Gabdulbarievich IBRAGHIMOV - First Deputy General Director - ChiefEngineer of OAO Tatneft; 8. Vladimir Pavlovich LAVUSHCHENKO - Deputy General Director of OAO Tatneft; 9. Nail Ulfatovich MAGANOV - First Deputy General Director of OAO Tatneft, Headof Oil and Refined Products Sales Department; 10. Renat Khaliullovich MUSLIMOV - Consultant to the President of the Republicof Tatarstan on Oil and Gas Field Development; 11. Rinat Kasimovich SABIROV - Head of Petrochemical Complex Department of theGovernment of the Republic of Tatarstan; 12. Valery Yuryevich SOROKIN - General Director of OAO Svyazinvestneftekhim; 13. Mirgaziyan Zakiyevich TAZIYEV - Head of Oil Production Unit (NGDU)Almetyevneft; 14. Rais Salikhovich KHISAMOV - Deputy General Director of OAO Tatneft, ChiefGeologist. In addition, the Board of Directors of the Company approved candidates to theRevision Committee of the Company proposed by shareholders for the election atthe annual shareholders meeting of the Company. The Board of Directors acknowledged a decision of the Government of Tatarstan,pursuant to the exercise of the Golden Share rights of the Tatarstan Government,to designate Rustam Nurgaliyevich Minnikhanov, the Prime Minister of theRepublic of Tatarstan, to represent the Government in the Board of Directors ofOAO Tatneft. The OAO Tatneft Board of Directors determined the date and the place to conductthe Annual General Shareholders' Meeting dedicated to the results of performanceof the Company in 2007. The Meeting will be held on 26 June 2008 in the Palaceof Culture Neftche in Almetyevsk, at 10:00 Moscow time. The participants'registration procedure was also approved. The preliminary registration will beheld during the period from 16 to 25 June, from 08.00 to 17.00 at the followingaddress:10, Gagarin Street, Almetyevsk (OAO Tatneft Property Department). Theregistration on the date of the Meeting will begin at 08:30 in the premises ofthe Palace of Culture Neftche. The list of individuals entitled to attend theMeeting will be drawn up based on the Company Shareholders Register data as of08.00 a.m. 12 May 2008. Forward-looking statements: This press-release may contain certainforward-looking statements of OAO Tatneft. OAO Tatneft does not guaranteeoccurrence of any events mentioned in such statements as well as term of theiroccurrence. This information is provided by RNS The company news service from the London Stock Exchange