NOVATEK Board of Directors announces Extraordinary General Meeting of
Shareholders
OAO Novatek
NOVATEK BOARD OF DIRECTORS ANNOUNCES EXTRAORDINARY GENERAL MEETING OF
SHAREHOLDERS
Moscow, 14 October 2009. The Board of Directors (the
“Board”) of OAO NOVATEK (“NOVATEK” and or the “Company”) has approved
the decision to convene an Extraordinary General Meeting of Shareholders
(EGM).
The Board has approved the following agenda for the EGM:
1. Approval of a related party transaction (gas supply contracts)
between OAO NOVATEK and OAO INTER RAO UES
2. Approval of several interrelated transactions (amendments to the
Natural Gas Supply Contract of 13 November 2006 between OAO NOVATEK and
OOO Mezhregiongas) that are considered to be related party transactions.
The gas supply contracts between the Company and OOO INTER RAO UES and
OOO Mezhregiongas are considered related party transactions due to the
fact that NOVATEK’s Board member, Kirill Seleznev, is also a member of
the Board of Directors of INTER RAO UES and the General Director of OOO
Mezhregiongas.
The value of each of the contemplated gas supply contracts is in excess
of two percent (2.0%) of the book value of NOVATEK’s assets, under
Russian Accounting Standards, as of the last reporting date and
therefore requires shareholder approval.
The date of compiling the list of shareholders entitled to participate
in the EGM is 19 October 2009. Participation in the EGM will be carried
out through absentee voting and all ballots must be received by 24
November 2009.
***
For further information, please visit www.novatek.ru
or contact:
***
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”.
