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June 30, 2015

Meeting of Shareholders of Bashneft resolved to pay dividends of RUB 20.07 billion for 2014

Today, the Annual General Meeting of PJSOC Bashneft approved the corporate annual report and annual financial statements, including the corporate profit and loss statement for 2014.

The meeting of shareholders resolved to allocate RUB 20.07 billion out of net profits generated by PJSOC Bashneft in 2014 to pay dividends for the 2014 fiscal year (RUB 113 per one ordinary registered share and RUB 113 per one preferred registered share). The meeting set July 17, 2015 as the date when persons entitled to dividends on Bashneft shares will be registered in accordance with the resolution to pay (declare) dividends. All dividends will be paid by August 21 of this year.

The meeting of shareholders resolved that the Board of Directors of Bashneft should comprise 10 persons and appointed the current Board members:

  1. Charles Watson, Independent Director;
  2. Evgeny Guryev, Minister of Land and Property Relations of the Republic of Bashkortostan;
  3. Maurice Dijols, Independent Director;
  4. Anthony Considine, Independent Director;
  5. Alexander Korsik, President, Chairman of the Management Board of PJSOC Bashneft;
  6. Rustem Mardanov, First Deputy Prime Minister of the Government of the Republic of Bashkortostan;
  7. Viktor Orlov, President of the Public Organization Russian Geological Society;
  8. Vitaly Sergeychuk, Head of the Department for Property Relations and Privatization of Major Enterprises, Federal Agency for State Property Management;
  9. Alexey Teksler, First Deputy Minister of Energy of the Russian Federation;
  10. Yury Shafranik, Chairman of the Board of Directors of Interstate Oil Company SoyuzNefteGaz CJSC.

The meeting of shareholders also elected the Audit Commission members and approved RSM RUS LLC as Russian Accounting Standards auditor of Bashneft and Deloitte & Touche CIS CJSC as its IFRS auditor for 2015, both auditors being the winners of an open tender.

In addition, the meeting approved Bashneft’s revised Articles of Association reflecting the latest legislative changes, requirements of the regulatory authorities and the Code of Corporate Governance, as well as listing rules, and also approved a number of other in-house documents of the Company.

At the meeting of the Board of Directors that followed the meeting of shareholders, the Board of Directors approved the quantitative composition and membership of the Strategy Committee (chaired by Yury Shafranik), Audit Committee (Anthony Considine), Nomination and Remuneration Committee (Maurice Dijols), Health, Safety, Environment and Social Responsibility Committee (Charles Watson), and Budget Committee (Rustem Mardanov).




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