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Bashneft

July 29, 2015

Alexey Lisovenko is appointed Chief Financial Officer of Bashneft

Today, the Board of Directors of PJSOC Bashneft has approved the appointment of Alexey Lisovenko as Vice President for Economics and Finance and Chief Financial Officer of the Company. Alexey Lisovenko has replaced Denis Stankevich, who took up the post of Bashneft’s First Vice President for Refining and Commerce in May this year.

Alexey Lisovenko was born in 1972. In 1996 he graduated from the Astronautical and Rocket Engineering Faculty of Moscow Aviation Institute with a degree in Computer-Aided Design and completed a correspondence course in Business on the Market for Goods and Services in Moscow State University of Commerce. From 1996 through 2001 he worked for a number of printing and publishing and advertising production businesses as deputy chief accountant and chief accountant. From 2002 through 2003 he held the position of Senior Accountant and Deputy Chief Accountant of JSFC Sistema; in 2003 and 2004 Mr. Lisovenko was the Chief Accountant of OJSC Research Institute for Molecular Electronics and Mikron Plant. From 2006 through 2009 he held the post of Chief Accountant of OJSC Sistema-Invest. Since 2009 he has been the Deputy Chief Financial Officer and Chief Accountant of JSOC Bashneft.

The Board of Directors has resolved to refrain from placement of an additional issue of ordinary registered book-entry shares of PJSOC Bashneft with a par value of 1 rouble each comprising 37 million shares through public offering (state registration number of the additional issue: 1-01-00013-A; date of state registration: September 5, 2014). The resolution on an increase in Bashneft’s authorized share capital through placement of the said share issue was adopted by the Board of Directors on July 3, 2014 as part of preparation for a potential secondary public offering of the Company’s securities, which was postponed in July last year due to unfavourable market conditions.

In accordance with a directive from the Government of the Russian Federation, the Board of Directors has resolved that JSC United Petrochemical Company (UPC), Bashneft’s wholly owned subsidiary, should acquire a 49% shareholding in RusPET Holding B.V. (Netherlands) from Grupo Petrotemex (Mexico) for no more than 4 million euro. As a result of the deal, the stake of JSC UPC in the share capital of RusPET Holding B.v. will total 100%.

RusPET Holding B.v. has a 100% shareholding in LLC RusPETF, a joint venture of UPC and Grupo Petrotemex established in December 2013. In December 2014, Grupo Petrotemex decided to abandon the project and sent a notice of the sale of 49% of shares of RusPET Holding to its partner in the joint venture, United Petrochemical Company, in accordance with the provisions of the Joint Venture Agreement due to a replacement of its controlling shareholder.

 

 

 

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