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6 Jun 2008 08:13
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RosneftΒ Holds Annual General Shareholders Meeting andΒ Board of DirectorsΒ Meeting
On June 5, 2008, Rosneft'sΒ Annual General Shareholders MeetingΒ and Board of DirectorsΒ MeetingΒ took place inΒ Moscow.
TheΒ Shareholders MeetingΒ approved the Company's annual report for 2007,Β annual financial statementsΒ for 2007, and profit distribution.Β The Meeting alsoΒ approved amendments to the Company'sΒ CharterΒ andΒ related-party transactions.
The Company's netΒ incomeΒ wasΒ approvedΒ at RUB 162.022 billion,Β while totalΒ dividendsΒ for 2007Β wereΒ setΒ atΒ RUB 16.957 billionΒ (RUB 1.6 per ordinary share), a 20% increase compared to 2006.Β Dividends will be paidΒ throughΒ December 31, 2008.Β The record-high dividendsΒ areΒ largely the result of Rosneft's continued business growth and improved operating efficiency.
The following nineΒ nomineesΒ were elected to Rosneft's Board of Directors:
Sergey Bogdanchikov - President of RosneftΒ
Andrey Kostin - President-Chairman ofΒ the Management Board of VTBΒ Bank
Sergey Naryshkin -Β Chief ofΒ Staff ofΒ the Russian President'sΒ Executive OfficeΒ
Alexander Nekipelov - Vice-President of theΒ RussianΒ AcademyΒ of Sciences
Gleb Nikitin -Β DeputyΒ Head of theΒ FederalΒ Agency forΒ Federal PropertyΒ ManagementΒ
YuryΒ Petrov -Β Head of theΒ FederalΒ Agency for Federal Property Management
Andrey Reus -Β General DirectorΒ of OJSCΒ Oboronprom
Hans-Joerg RudloffΒ - Chairman of theΒ Management BoardΒ of Barclays CapitalΒ
Igor Sechin -Β DeputyΒ Prime MinisterΒ ofΒ theΒ Russian FederationΒ
TheΒ Shareholders MeetingΒ alsoΒ elected Rosneft's Internal Audit Committee, which consists ofΒ fiveΒ members.Β CJSC Audit and Consulting Group for Business Systems DevelopmentΒ was appointedΒ asΒ auditor ofΒ RosneftΒ RASΒ financial statements for 2008.
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Immediately following theΒ Shareholders Meeting, a meeting of the Company's newly elected Board of Directors was held. The Board reelected Igor Sechin,Β Deputy Prime Minister of theΒ Russian Federation,Β as the Chairman of the Board of Directors. Sergey Naryshkin,Β Chief ofΒ Staff ofΒ the Russian President'sΒ Executive Office,Β and Gleb Nikitin, Deputy Head of the Federal Agency for Federal Property Management,Β were reelected as Deputy Chairmen of the Board.
The Board of Directors alsoΒ approvedΒ the composition of its three committeesΒ headedΒ byΒ independent directors.Β Hans-Joerg Rudloff, Chairman of theΒ Management BoardΒ of Barclays Capital, was reelected asΒ ChairmanΒ of the Audit Committee;Β Andrey Kostin, President-Chairman ofΒ the Management Board of VTBΒ bank, was reelected asΒ ChairmanΒ of theΒ HR and Remuneration Committee;Β andΒ Alexander Nekipelov, Vice-President of theΒ RussianΒ AcademyΒ of Sciences, was reelected asΒ ChairmanΒ of the Strategic Planning Committee.
Rosneft Information Division
221-31-07 phone
411-54-21 fax
n_manvelov@rosneft.ru
JuneΒ 5,Β 2008
These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.
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