OREANDA-NEWS. On April 23, 2015 a scheduled meeting of the Rosneft Board of Directors was held in Moscow to consider issues related to the annual general shareholders meeting of the Company for the year 2014.

The Board of Directors resolved to call a Rosneft AGSM and hold it in St. Petersburg on June 17, 2015. The list of persons entitled to attending the scheduled general shareholders meeting is scheduled to be issued COB May 4, 2015.

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 2014;
  • Amount, terms and form of dividend payout for the year 2014;
  • 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 related party transactions.

The Board of Directors preliminary approved the Company’s 2014 annual report and recommended that the AGSM adopts a resolution to pay dividends of 8.21 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 RUB 87 bln.

The Board of Directors approved changes to the membership of the Company’s Management Board: Andrey Shishkin, Vice-president for energetics and localization, and Yuri Narushevich, Vice-president for internal service, were elected instead of Igor Pavlov and Andrey Votinov.

The Board of Directors approved corrections of the Company’s 2015-2016 Business plan and endorsed the Company’s Payments and Compensations Standard for top managers.

The Board of Directors recommended appointing Ernst and Young LLC as the Company’s auditor of 2015 RAS and IFRS financial statements and determined the cost of services.