OREANDA-NEWS. On May 20, 2007 at a meeting, the Board of Directors of OJSC Rosneft considered issues related to preparation for the Company's annual meeting of shareholders, which will take place on June 30, 2007 at Rosneft's headquarters in Moscow. A list of shareholders eligible to take part in the meeting will be complied at the end of the day on May 23, 2007, reported the press-centre of OJSC Rosneft.
The Board of Directors has approved the agenda for the general annual meeting of shareholders, given preliminary approval to the Company's annual report and financial statements, including its earnings report and profits distribution based on 2006 results.
The Board has recommended that shareholders approve a dividend of RUR 1.33 per share, which is 6.7% higher than last year's dividend per share and equates to more than 15% of net profits on a US GAAP basis (and almost 20% on a RAS basis excluding nonrecurring income).
Moreover, the Board of Directors has recommended that shareholders commission CJSC Audit-Consulting Group Business Systems Development to perform the Company's financial audit under Russian Accounting Standards for 2007.
Along with issues concerning the annual meeting of shareholders, Rosneft's Board of Directors elected Vice President Sergey Karaganov to the Company's Management Board.