On June 15, 2016 Rosneft’s Annual General Shareholders’ Meeting was held in St. Petersburg. Holders of over 90% of the Company’s shares took part in the meeting.
The Meeting approved the Annual Report, Annual Financial Statements and Profit Distribution of Rosneft for 2015.
The decision was taken to distribute 124.5 billion rubles (11 rubles 75 kopecks per share, which exceeds the previous year’s rate by 43%) for dividends. The approved dividend amount equals 35% of Rosneft’s IFRS net profit. The dividends will be paid to the nominal shareholders and trustees by July 11, 2016, and to other shareholders registered in the Shareholders Register by August 1, 2016.
Shareholders elected the new Board of Directors consisting of 9 persons, including:
Andrey Akimov, Chairman of the Management Board of Gazprombank
Andrey Belousov, Aide to the President of the Russian Federation;
Matthias Warnig, Managing Director of the Nord Stream 2 AG;
Oleg Viyugin, Chairman of the MDM Bank Board of Directors;
Robert Dudley, President of BP group of companies;
Guillermo Quintero, Member of the Rosneft Board of Directors;
Alexander Novak, Energy Minister of the Russian Federation;
Igor Sechin, Chairman of the Management Board of Rosneft;
Donald Humphreys, Member of Rosneft Board of Directors.
The Meeting resolved to elect the Audit Commission consisting of 5 persons, approved Ernst & Young as the auditor of Rosneft, and defined the amount of remuneration of the Board of Directors members and Audit Commission.
The Meeting approved the changes to the Charter and Regulations on the company management and control bodies in view of development of the corporate legislation and corporate governance practice. The status of “a public joint stock company’’ was reflected in the Company name.
The Meeting also approved a number of related party transactions.
Following the results of the Board of Directors meeting that took place on June 15, 2016, Andrey Belousov was elected as the Chairman of the Board of Directors.