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28.04.2006  
  April 28, 2006 – OJSC “NIzhnekamsknefetkhim” held its annual meeting for company shareholders.

Vladimir Busigin, General director of OJSC “Nizhnekamsknefetkhim”, spoke before the shareholders on the Company’s performance and results in 2005. The Company has produced goods for RUR 39,8 bln in the year under report or more than a half of all goods produced by the petrochemical industry of the Republic of Tatarstan. The index of aggregate output growth if compared with 2004 level showed 110,2%. The revenues of the Company for the goods sold in 2005 totaled RUR 6,4 bln.
RUR 6 bln 473 mln were charged into the budgets of all levels for the fiscal 2005 taking into consideration the figures showed in the financial plan – RUR 3,723 bln. Thus, the liabilities taken were exceeded by 1,74 times.
The company is going to release production for more than RUR 41 bln in 2006. The projected output growth in comparable prices is 104,5%. The projected level of sales revenues is RUR 5,2 bln
Shareholders approved the annual report and balance sheet during the meeting including income statement and profit distribution statement for fiscal 2005, and adopted the amount of dividend payment per Company’s shares for 2005.

It was decided to pay dividends in the amount of 17,65 percent per ordinary and preferred share with a par value of 1 rouble, according to the 2005 results for the total amount of RUR 323 mln. or 15% of “NKNH” net profits.

The shareholders elected the following Board of Directors of OJSC «Nizhnekamskneftekhim» consisting of 17 members:
the state representative (by acclamation)
Rinat K. Sabirov – Adviser to prime minister of the Republic of Tatarstan;
and elected by the shareholders:
Vladimir M. Busigin – General director, OJSC «Nizhnekamskneftekhim»,
Khamit Kh. Gil’manov – First Deputy General director – chief engineer, OJSC «Nizhnekamskneftekhim»,
Rustam M. Akhmetov – Deputy General director for economic & finance issues, OJSC «Nizhnekamskneftekhim»,
Igor V. Larionov – Deputy General director, OJSC «Nizhnekamskneftekhim» - Head of department of corporate property and investments management,
Rafinat S. Yarullin – General director, OJSC «Tatneftekhiminvest-holding»;
Albert K. Shigaboutdinov – General director, PSC «TAIF»,
Rustem N. Sulteev – First Deputy General director, PSC «TAIF»,
Vladimir V. Presnyakov – Deputy General director, PSC «TAIF»,
Guzeliya M. Safina – Deputy General director, PSC «TAIF»,
Ruslan A. Shigaboutdinov – Deputy General director, PSC «TAIF»,
Leonif S. Alekhin – General director, OJSC «Kazanorgsintez»,
Robert G. Khanannov – General director, CJSC «TAIF-NK»,
Radik R. Gaizatullin – Minister of finance of the Republic of Tatarstan,
Ilshat Sh. Fardiev – General directors, OJSC «Tatenergo»;
Nail U. Maganov – First Deputy General director, OJSC «Tatneft»,
Nurislam Z. Subaev – Adviser to General director, OJSC «“atneft».

The participants of the meeting elected the auditing committee with 5 members. They are:
the state representative
Elena I. Buzdaeva – Deputy Head of department of the Ministry of finance of the Republic of Tatarstan (by acclamation);
and elected by the shareholders:
Alexey I. Belyaev – Head of department of the Ministry of Economic affairs and industry of the Republic of Tatarstan;
Rashit G. Salakhutdinov – Head of department for coordination of resources for corporate property and investments management, OJSC «Nizhnekamskneftekhim»;
Olga V. Ignatovskaya - Head of Planning and financial management department, PSC «TAIF»;
Gadelys R. Nurgalieva – Deputy General directors, CJSC «TAIF-NK».
LLC “Audit firm “Audi” was approved as the Company’s independent auditor. The participants of the meeting adopted changes and amendments to OJSC “Nizhnekamskneftekhim” Charter, adopted the calculation of costs of the Board of directors of OJSC “Nizhnekamskneftekhim” for 2006.

Albert K. Shigaboutdinov, General director of PSC “TAIF” was elected Chairman of the newly elected Board of directors at the first Board of directors meeting held after the annual shareholders meeting of OJSC “Nizhnekamskneftekhim”.
Vladimir M. Busigin, General director of OJSC “Nizhnekamskneftekhim” was elected as Deputy Chairman of the Board, Georgij V. Alexandrov, Head of Department for cooperation with investors and rating agencies, was elected as Secretary of the Board.

Board of directors confirmed the authorities of General director of OJSC «Nizhnekamskneftekhim», Vladimir Busigin.
 

 

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420012 Kazan, Republic of Tatarstan, Russia


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