Today on June 21, 2012 the Annual General Meeting of Kazanorgsintez OJSC’s Shareholders was held, where 2011 performance results of the company were summarized. The Prime Minister of Republic of Tatarstan Ildar Shafkatovich Khalikov participated in it.
A report about 2011 performance results was presented by the General Director, Kazanorgsintez OJSC, Farid Minigulov. He noticed in his speech that the preceding year was a success for the company. Net profit equaled to RUB 473.3 million in the reporting year. Active work was performed to stabilize the duty of E-500 ethylene unit, with further achievement of the planned ethylene production capacity. Simultaneously, in order to cut the prime cost of products issued, ethylene supplies from outside were decreased. As a result, sales profit made up RUB 4.2 billion in 2011 that is by RUB 129 million more than it was in 2010. Sales revenue amounted to over RUB 37.0 billion that is by 9.8% higher than it was in 2010. Revenue growth resulted mainly from rise in the company’s products price. The company timely and in full makes payments to all-level budgets and payroll.
The company’s shareholders approved the annual report, the annual accounting statements, including the income statement of Kazanorgsintez OJSC for 2011.
The shareholders also approved profit appropriation of Kazanorgsintez OJSC based on 2011 performance, following the Company’s Board of Directors:
to pay dividends (30% of net profit) – RUB 131.2 million, including:
- for preferred shares – at RUB 0.25 per share (according to Item 10.17. of Kazanorgsintez OJSC’s Charter);
- for ordinary shares – at RUB 0.06 per share;
- to cover losses of previous years – RUB 17.9 million;
- for equity financing of tariffs for population for heat energy cogenerated on the territory of the
Republic of Tatarstan – RUB 288.2 million.
The Board of Directors was elected in the shareholders meeting. It included:
1. Leonid S. Alekhin
2. Sergey V. Alekseev – First Deputy General Director, Svyazinvestneftekhim OJSC
3. Marat M. Garaev – Deputy Head of Department – Head, Marketing, Gas and Liquefied Hydrocarbons Processing Department Division, Gazprom OJSC
4. Yevgeny A. Grishin – Deputy Head, Secretary’s Office of RT State Advisor
5. Vladimir V. Presnyakov – Deputy General Director, TAIF PSC
6. Rinat K. Sabirov - Aide to the RT President
7. Rustem N. Sulteev – First Deputy General Director, TAIF PSC
8. Andrey V. Sarkin – Head, Corporate Division for Property and Investments, TAIF PSC
9. Dmitry I. Teslenko – Head, Financial and Economic Division, TAIF PSC
10. Albert K. Shigabutdinov – General Director, TAIF PSC
Based on a special right («golden share»), a representative from the government was appointed to the Kazanorgsintez OJSC’s Board of Directors – Midkhat R. Shagiakhmetov – Minister for Economy, the Republic of Tatarstan.
The Auditing Committee of the Company was elected in the shareholders meeting. It included:
Lyalya Z. Batyrkhanova – Economist, Financial and Economic Division, TAIF PSC;
Yulia V. Voronina – Key Advisor, Administrative Department of the President of the Republic of Tatarstan;
Aida R. Gabdrakhmanovna – Head, Planning and Economic Department, Kazanorgsintez OJSC
Olga V. Ignatovskaya – Chief Accountant, TAIF PSC;
Based on a special right («golden share»), a representative from the government was appointed to the Kazanorgsintez OJSC’s Auditing Committee – Fanis G. Gabdulkhakov – Head, Department of the Ministry for Finance, the Republic of Tatarstan.
PricewaterhouseCoopers Audit CJSC was approved as the Company’s Auditor in the shareholders meeting.
After closing the Annual General Meeting, the first meeting of the re-elected Board of Directors was held. Following the Prime Minister of Republic of Tatarstan Ildar Shafkatovich Khalikov, a new Board of Directors elected Albert Kashafovich Shigabutdinov, General Director, TAIF PSC, as the Board Chairman and Farid Gertovich Minigulov as the General Director of Kazanorgsintez OJSC.
Media Service, Kazanorgsintez OJSC
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