Results of the Extraordinary General Meeting of Shareholders
OAO Novatek
RESULTS OF NOVATEK’S EXTRAORDINARY
GENERAL MEETING OF
SHAREHOLDERS
OAO NOVATEK (hereinafter “NOVATEK” and/or the “Company”) announced today
that the Extraordinary General Meeting of Shareholders (“EGM”), held on
7 August 2009, resolved to approve the parameters for several
interrelated interested party transactions (loan agreements, credit
facility agreements and credit line agreements). The interested party
refers to a member of the Board of Directors of NOVATEK who is also the
Chairman of the Management Board of OAO Gazprombank.
The resolution provides a framework for the negotiation of potential
loan agreements between NOVATEK (the Borrower) and OAO Gazprombank (the
Lender). The resolution was necessary to provide OAO Gazprombank the
opportunity to participate in future credit agreements if its terms were
competitive compared to those of other potential lenders.
Within the framework of the approved transactions the total amount of
borrowed funds will not exceed thirty billion Russian rubles, or its
equivalent in US dollars or Euros. The maximum per loan amount will not
be more than fifteen billion Russian rubles, or its equivalent in US
dollars or Euros. Interest on the loans granted under the agreement will
be not more than twelve percent per annum for US dollar/Euro loans and
not more than nineteen percent for Russian ruble loans. The term of each
loan agreement will be five years or less and will include an early
repayment option.
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For further information, please visit www.novatek.ru
or contact:
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OAO NOVATEK is Russia’s largest independent gas producer and the
second-largest natural gas producer in Russia. Founded in 1994, the
Company is engaged in the exploration, production, processing and
marketing of natural gas and liquid hydrocarbons. The Company’s upstream
activities are concentrated in the prolific Yamal-Nenets Region, which
is the world's largest natural gas producing area and accounts for over
90% of Russia's natural gas production and 20% of the world’s gas
production. NOVATEK is an open joint stock company established under the
laws of the Russian Federation. The Company’s shares are listed on the
Russian Trading System (RTS) and the London Stock Exchange (LSE) under
the ticker symbol ‘NVTK’ and on the NASDAQ PORTAL System as Rule 144A
GDR under the ticker symbol “NVATY”.
