On March 14, 2011 the Board of Directors of OJSC “Nizhnekamskneftekhim” held its regular meeting chaired by PSC “TAIF” General Director and the Chairman of the company’s Board of Directors Mr. A. Shigabutdinov.
Board members approved the company’s draft annual and social reports for the year 2010; it is stated in the company’s message.
According to the results of the company’s financial and economic activity for 2010 the Board of Directors issued a recommendation to allocate 30% of net profit to dividend payments that amounts to RUB 2.152 bln or RUB 1.176 per each ordinary or preference share.
The Board approved the agenda for the Annual Meeting of Shareholders, the text of the message to be published, the layout and the text of voting papers, the scope of information to be provided to the shareholders as well as the amendments and updates to the Charter and internal documents.
Annual General Meeting of Shareholders of OJSC “Nizhnekamskneftekhim” will take place on April 15, 2011.
In the Annual General Meeting of Shareholders, “PricewaterhouseCoopers” company was recommended to be appointed as an auditor for 2011 based on the results of the competition on selection of an independent RAS (Russian Accounting Standards) and IFRS (International Financial Reporting Standards) auditor for OJSC “Nizhnekamskneftekhim”.
The Board of Directors heard the information about the accounts payable and receivable of OJSC “Nizhnekamskneftekhim”, its financial stability indicators, about the course of implementation of the actions aimed at enhancing industrial safety and labor protection as well as about the company’s activity in the security market, credit ratings and capitalization.
OJSC “Nizhnekamskneftekhim” is a company within “TAIF” Group. The company’s production complex is comprised of 10 core plants, 6 centers (including scientific-and-research and design-and-engineering centers) as well as auxiliary shops and departments. The list of the products manufactured consists of over 100 items. The core products are synthetic rubbers for general and specific use, plastics: polystyrene, polypropylene and polyethylene, monomers that are used as raw material for rubber and plastic production and other petrochemical products (ethylene oxide, propylene oxide, alpha-olefins, surface-active agents and etc.).