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18.04.2008  
  April 18, 2008 On 18 April 2008, the Annual General Shareholders Meeting of OJSC “Nizhnekamskneftekhim” was held. The Meeting approved the Company’s Annual Report, Financial Statements including Income Statement, and profit allocation following the year under report. Rustam Minnikhanov, Prime Minister of the Republic of Tatarstan, Aidar Metshin, Head of Nizhnekamsk Municipal Region, attended the Meeting. The shareholders approved the 2007 Company stock dividend distribution amounting to 67.15% of the ordinary and preference stock par value (54.48% per 2006 results). It provides for over RUB 1.229bln to be paid out within 12 months of the decision taken by the Annual General Shareholders Meeting. "PricewaterhouseCoopers Audit" (ZAO) was elected as the Company auditor. The Conference approved a redrafted Charter of OJSC "Nizhnekamskneftekhim" and a Board of Directors budget for 2008. The shareholders elected the OJSC "Nizhnekamskneftekhim" Board of Directors as follows: 1. Albert K. Shigabutdinov – General Director of PSC “TAIF” 2. Vladimir M. Busygin – General Director of OJSC “Nizhnekamskneftekhim” 3. Radik R. Gaizatullin –Minister of Finance of the Republic of Tatarstan 4. Rafkat A. Kantyukov – General Director of “Gazprom transgas Kazan” Ltd 5. Nahil U. Maganov – First Deputy General Director-Head of Oil & Oil Product Sales Department of OAO “Tatneft” 6. Aidar R. Metshin – Head of Nizhnekamsk Municipal Region 7. Jelko Milich – Executive Director of IPCO-TRADING S.A. 8. Vladimir V. Presnyakov – Deputy General Director of PSC “TAIF” for Petrochemicals and Oil Refining 9. Alexander L. Rappoport – Managing Partner of Law Office "Rappoport & Partners" 10. Rinat K. Sabirov – Head of Section for Oil, Gas & Chemical Complex Issues at the Office of the Cabinet of Ministers of the Republic of Tatarstan (governmental representative – with no voting right) 11. Guzelya M. Safina – Deputy General Director of PSC “TAIF” for Economics & Finance The Meeting elected the Audit Committee as follows: 1. Aleksei I. Belayev – Head of Section of the Tatarstan Ministry of Industry & Trade 2. Almaz I. Galeyev – Lead Advisor to the Tatarstan Ministry of Finance (governmental representative – with no voting right) 3. Olga V. Ignatovskaya – Chief Accountant of PSC “TAIF” 4. Igor V. Larionov – Deputy General Director-Head of Corporate Property & Investment Department, OJSC "Nizhnekamskneftekhim" 5. Airat D. Shamsiyev – Head of Department of the Tatarstan Ministry of Economy In 2007, the OJSC "Nizhnekamskneftekhim" commodity output exceeded RUB 55bln. The volume of production was 12% more if compared to the preceding year results. Sales revenue was over RUB 58.6bln, net income – not more than RUB 4.096bln. The amount of RUB 5.8bln went to the budgets of all levels. The Company launched a new chloromethyl compressor and the 7th polymerization system, a captive energy supplier – cogeneration gas-turbine unit GTU-75, LiBR production; commercialized polyether production for polyurethane systems, initiated shipments of polymerization purity 1-hexene to users. The Ethylene Complex is still under reconstruction, the PE Plant and the third polystyrene line construction are close to completion. After the Annual General Shareholders Meeting of OJSC "Nizhnekamskneftekhim" was over, a new Board of Directors traditionally held its first meeting. The Board supported the proposal of Prime Minister R. Minnikhanov and elected Albert K. Shigabutdinov, General Director of PSC “TAIF”, as the Board Chairman again and affirmed the powers of Vladimir M. Busygin, General Director of OJSC “Nizhnekamskneftekhim”.  

 

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