Yesterday, the Board of Directors of PJSOC Bashneft has approved the agenda of the Annual General Meeting of Shareholders of the Company to be held on June 30, 2016 in Ufa.
In accordance with a directive from the Government of the Russian Federation, the Board of Directors has recommended the Meeting of Shareholders to allocate 29.1 billion roubles (164 roubles per ordinary registered share and 164 roubles per preferred registered share) for dividend payments for the 2015 fiscal year; this amounts to 50% of PJSOC Bashneft’s IFRS net income attributable to shareholders of the parent company for the said period.
The Board of Directors has also recommended that the Meeting should set the record date in accordance with the decision to pay (declare) dividends on PJSOC Bashneft’s shares at July 15, 2016.
AGENDA OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS
TO BE HELD ON JUNE 30, 2016
1. Approval of the Company’s annual report.
2. Approval of the Company’s annual financial statements.
3. Approval of distribution of the Company’s profit for 2015.
4. The amount of dividends, the date and form of dividend payments for 2015 and the dividend record date.
5. Payment of remuneration for serving on the Board of Directors to members of the Board of Directors who are not civil servants in the amount stipulated in the Company’s internal documents.
6. Payment of remuneration for serving on the Audit Commission to members of the Audit Commission who are not civil servants in the amount stipulated in the Company’s internal documents.
7. Approval of the number of members of the Company’s Board of Directors.
8. Election to the Company’s Board of Directors.
9. Election of the Audit Commission (internal auditor) of the Company.
10. Approval of the Company’s auditor.
11. Approval of a new version of the Company’s Charter.
12. Approval of a new version of the Regulations on the General Meeting of Shareholders of the Company.
13. Approval of a new version of the Regulations on the Board of Directors of the Company.
14. Approval of a new version of the Regulations on the Management Board of the Company.
15. Approval of related-party transactions.
The need for approval of a new version of the Charter and the Regulations mentioned in items 12 to 14 of the agenda is related to Bashneft’s efforts to implement recommendations for improvement of corporate governance in accordance with the Code of Corporate Governance of the Bank of Russia and to ensure compliance of the said internal regulations with amended corporate laws. Related-party transactions subject to approval by the Meeting of Shareholders are related to the ordinary course of business of the Company.