April 22, 2011
Today, on April 22, 2011 the Annual General Meeting of Shareholders of OJSC “Kazanorgsintez” was held to summarize the results of operation in 2010. The President of Tatarstan Republic Rustam Nurgalievich Minnikhanov and representatives of ministries and government bodies of Tatarstan took part in this meeting.
A report on the results of 2010 operation was presented by the General Director of OJSC “Kazanorgsintez” Mr. Leonid Alekhin. It was mentioned in his report that the Company successfully closed the past year. It managed to earn RUB 1.14 billion of net profit. Obviously, one of the major events of the past year was the completion of reconstruction of the Ethylene Plant along with commissioning of a strategically important facility – Ethylene-500 Complex. Thus, the goal of expanding the ethylene production facilities to 640 kta was achieved. In 2010, the first stage of the Strategic Development Program was fully accomplished enabling the Company to proceed to the next stage. In the reporting year, OJSC “Kazanorgsintez” continued expanding its production facilities. Therefore, it produced approximately 800 thousand tons of output to the amount of ca. RUB 34 billion. Physical volume index amounted to 109.4% against 2009. An event of special importance in the reporting year was completion of the Company’s debt restructuring by means of the credit lines opened by “Sberbank” and a loan ranted by PSC “TAIF”.
The Company timely and fully makes payments to all the levels of the budget and pays salaries.
The participants of the Meeting approved the Annual Report, and annual accountings reports according to the results of 2010.
The shareholders approved a major transaction between OJSC “Kazanorgsintez” and OJSC “Gazprombank” on obtaining of a credit against the property of OJSC “Kazanorgsintez”.
The participants of the meeting of shareholders elected the Board of Directors of
OJSC “Kazanorgsintez” consisting of 11 persons as follows:
1. Alekhin Leonid Stepanovich – General Director, OJSC “Kazanorgsintez”;
2. Alekseev Sergey Vladimirovich – First Deputy General Director, OJSC “Svyazinvestneftekhim”;
3. Grishin Evgeniy Anatolievich – Deputy Head, Secretariat of State Councilor of Tatarstan Republic;
4. Garaev Marat Marselevich – Deputy Head of Department – Head of Marketing, Gas and Liquid Hydrocarbons Pprocessing, OJSC “Gazprom”.
5. Presnyakov Vladimir Vasilievich – Deputy General Director, PSC “TAIF”.
6. Sabirov Rinat Kasimovich – Aide to President of Tatarstan Republic.
7. Sulteev Rustem Nurgasimovich – First Deputy Director, PSC “TAIF”.
8. Teslenko Dmitry Ivanovich – Head, Finance and Economy Department, PSC “TAIF”.
9. Shigabutdinov Albert Kashafovich – General Director, PSC “TAIF”.
10. Shigabutdinov Ruslan Albertovich – Deputy General Director, PSC “TAIF”.
11. Shagiakhmetov Midkhat Rafkatovich – Minister of Economy of Tatarstan
Republic – is appointed on the basis of a special right/abnormal law, to which the Company is subject (“golden share”).
The meeting of shareholders appointed the closed joint stock company “Pricewaterhouse Coopers” as an auditor of the Company.
Once the Annual General Meeting of OJSC “Kazanorgsintez” Shareholders was over, the first meeting of a newly elected Board of Directors was held. By the proposal of the President of Tatartan Rustam Minnikhanov, the new Board of Directors elected Shigabutdinov Albert Kashafovich – General Director of PSC “TAIF” – a Chairman of the Board. Also the Board of Directors confirmed the powers of OJSC “Kazanorgsinetz” General Director Alekhin Leonid Stepanovich.
Media office, OJSC “Kazanorgsintez”
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