A session of the OAO LUKOIL Board of Directors took place in Moscow today. Details were finalized regarding the Annual General Shareholders Meeting (the ‘Meeting’).
In particular, the Board of Directors decided to hold the Metting on June 24, 2010, at 11:00 a.m. at the corporate headquarters located in Moscow, at 11 Sretensky Boulevard. The Board of Directors resolved to prepare the list of shareholders eligible to participate in the Meeting as of May 7, 2010.
The Board of Directors will recommend the shareholders to approve dividend payments based on the Company’s performance in 2009 in the amount of RUR 52 per ordinary share, which exceeds the dividend rate of the previous year by 4% (RUR 50 based on 2008 performance). The dividend rate is established on the basis of the amount allocated to dividend payment coming to RUR 44,229,289 thousand, which amounts to 20.86% of the net consolidated profit calculated in accordance with the US GAAP.
The shareholders will also elect the Board of Directors consisting of 11 members from the list of candidates approved by the Board of Directors on February 4, 2010:
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1. |
Vagit Yu. Alekperov |
President of OAO LUKOIL |
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2. |
Igor V. Belikov |
Director of the Russian Institute of Directors |
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3. |
Victor V. Blazheev |
Rector of the Moscow State Academy of Law |
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4. |
Donald E. Wallette, Jr. |
President of Russia/Caspian Region, ConocoPhillips |
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5. |
Valery I. Grayfer |
Chairman of the Board of Directors of OAO RITEK |
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6. |
Herman O. Gref |
Chairman of the Board and CEO of Sberbank (Saving Bank of the Russian Federation) |
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7 |
Tatyana S. Esaulkova |
General Director of ÎÎÎ SDK Garant |
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8. |
Igor S. Ivanov |
Professor of the Moscow State Institute of International Relations |
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9. |
Ravil U. Maganov |
First Executive Vice President of OAO LUKOIL |
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10. |
Mark Mobius |
Executive Chairman of Templeton Asset Management Ltd. |
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11. |
Sergei A. Mikhailov |
General Director of OOO Management Consulting |
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12. |
Alexander N. Shokhin |
President of the Russian Union of Industrialists and Entrepreneurs (Employers), President of the State University – Higher School of Economics |
The Board of Directors also approved the performance assessment criteria for the Board of Directors and its committees which were elaborated by ZAO KPMG specifically for OAO LUKOIL. The assessment results based on these criteria will be announced at the meeting of the Board of Directors on May 21, 2010 and will be included into the Company’s Annual Report for 2009.
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