Last checked at 3 May 2011 09:09
PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS & MICEX: NMTP) hereby announces alterations in the company's Charter made in line with the Resolution #1343-p of the Russian Government dated 12.08.2010. These changes reflect additional rights of the RF Government in accordance with the "golden share" concept envisaged by the above Resolution #1343-p.
In particular new changes provide for:
- The right of the RF Government to appoint additional Director to the Board of the Company with the veto power with respect to the following matters:
o Changes and amendments to the Charter of the Company and/or approval of a new Charter
o Reorganization of NCSP
o Liquidation of NCSP, appointment of liquidation commission and approval of interim and final liquidation balances
o Change in Charter Capital
o Major and interested party transactions (according to Chapter X and XI of the Federal law on Joint Stock Companies
- The right of the RF Government to appoint one member of the Control (Revision) Commission of the Company
At the next AGM appointed for 30.06.2011 the shareholders will be able to elect only 6 Directors, and four members of the Control (Revision) Commission. One Director and one member of the Control (Revision) Commission are expected to be appointed by the Government directly.
About NCSP Group
Novorossiysk Commercial Sea Port is the largest Russian port operator and the 3d operator in Europe in terms of cargo turnover. NCSP shares are traded on Russia's RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares). NCSP Group consolidated cargo turnover in 2010 totaled 81.6 million tons (excluding Primorsk Trade Port); consolidated revenue to IFRS for 2010 totaled $635.3 million; 2010 net profit totaled $258.4 million. NCSP Group includes the following stevedore companies: PJSC Novorossiysk Commercial Sea Port, PJSC Primorsk Trade Port (since 2011), PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Shipyard, PJSC Fleet of NCSP, OJSC NLE, OJSC IPP, and Baltic Stevedoring Company Ltd.
For more information please contact:
+7 (8617) 650 043; senko@ncsp-net.com