On April 24, 2010 the regular meeting of Rosneft’s Board of Directors reviewed a number of issues related to the 2009 Annual General Meeting of Shareholders.
The Board decided the Annual General Meeting of Shareholders to be held on June 18, 2010 at: Pribaltiyskaya Hotel, 14 Korablestroiteley st., Saint Petersburg, Russia. The record date is April 29, 2010. The agenda includes:
1. Approval of the Annual Report;
2. Approval of the annual accounting statements;
3. Approval of the net income distribution;
4. Amount, date and form of dividend payment;
5. Remuneration of the members of the Board of Directions and compensation of their expenses;
6. Election of the members to the Board of Directors;
7. Election of the members to the Internal Audit Commission;
8. Approval of the auditor;
9. Approval of the related party transactions.
The Board of Directors issued a preliminary approval of the Company 2009 Annual Report and recommended to the General Meeting of Shareholders to approve an annual dividend for 2009 of RUB 2.30 per share, an increase of 20% compared with 2008. Total dividend accrued, should the shareholders make a decision as recommended by the Board, will amount to RUB 24.4 bln or 11.7% of non-consolidated net income of OJSC Rosneft under the Russian accounting standards, and will be paid out before December 31, 2010.
The following candidates were included into the voting ballots for the election to the Board:
1. Vladimir Bogdanov – General Director of Surgutneftegaz Oil Company;
2. Sergey Bogdanchikov – President of Rosneft Oil Company;
3. Andrey Kostin – President and Chairman of the Management Board of VTB Bank;
4. Sergey Kudriashov – Deputy Minister of Energy of the Russian Federation;
5. Alexander Nekipelov – Vice-President of the Russian Academy of Science;
6. Yury Petrov – Head of the Federal Agency for State Property Management;
7. Andrey Reus – General Director of OPK Oboronprom;
8. Hans-Joerg Rudloff – Chairman of the Management Board of Barclays Capital;
9. Igor Sechin – Deputy Prime Minister of the Russian Federation;
10. Nikolai Tokarev – President of Transneft.
The list of candidates for election to the Internal Audit Commission includes 5 nominees.
The Board of Directors recommended the approval of CJSC “AKG “RBS” as the Auditor of Rosneft annual accounting statements under the Russian accounting standards for 2010.
Besides, the Board of Directors decided to terminate the authority of Sergey Makarov, member of the Management Board, and elect Pavel Fedorov, first vice-president of Rosneft, as member of the Management Board.
Andrey Nazarov was appointed Corporate secretary.
The Board of Directors also recommended to the Annual General Meeting of Shareholders to approve the remuneration to the independent members of the Board in the form of Rosneft’s shares.