On April 28, 2014, a scheduled in presentio meeting of the Rosneft Board of Directors was held in St. Petersburg to consider issues related to the annual general shareholders meeting of the Company for the year 2013.
The Board of Directors resolved to call a Rosneft AGSM and hold it in Khabarovsk on June 27, 2014. The list of persons entitled to attending the scheduled general shareholders meeting is scheduled to be issued COB May 12, 2014.
The Board of Directors approved the following AGSM agenda:
- Approval of the Company’s annual report;
- Approval of the Company’s financial (accounting) statements, including the profit and loss reports (profit and loss statements);
- Approval of the distribution of the Company’s profit for the year 2013; amount, terms and form of dividend payout for the year 2013;
- Remuneration and compensation of expenses to members of the Company’s Board of Directors
- Election of the Company’s Board of Directors members; Election of the Company’s Audit Commission members;
- Approval of the Company’s auditor;
- Approval of a new revision of Rosneft Charter; approval of a new revision of the Regulations on Rosneft General Shareholders Meeting; approval of a new revision of the Regulations on Rosneft Board of Directors; approval of a new revision of the Regulations on Rosneft collective executive body (Management Board); approval of a new revision of the Regulations on Rosneft sole executive body (President); approval of a new revision of Regulations on Rosneft Audit Commission
- Approval of related party transactions.
- The Board of Directors resolved to appoint S. Gritskevitch to the position of Corporative Secretary of the Company
The Board of Directors preliminary approved the Company’s 2013 annual report and recommended that the AGSM adopts a resolution to pay dividends of 12.85 rubles per one ordinary share which constitutes 25% of the Company IFRS net profit. The total amount Rosneft will use for dividend payment will be equal to RUB136.187bln. Thus, the Company’s dividends will rise by 59.6% versus 2012.
The Board of Directors recommended appointing Ernst and Young LLC as the Company’s auditor of 2014 RAS and IFRS financial statements and determined the cost of services.
The Board of Directors also made resolutions to the other binding questions regarding arrangement and holding of the Annual Shareholders Meeting.