Novorossiysk Commercial Sea Port (LSE: NCSP, RTS: NMTP, MICEX: NMTP) (“NCSP”) announces that the Annual General Meeting of Shareholders of NCSP was held on 12th June 2008 in Novorossiysk.
The number of votes of shareholders that took part in the AGM (calculated at the beginning of the AGM) is 17 959 445 627, which makes up 93,25%.
According to the results of the Annual General Meeting, the following resolutions were passed:
To approve the annual report
To approve the annual accounting reports, including the Profit and Loss Report (account of profits and losses)
To approve the distribution of Profit as per the results of 2007
To pay dividends from the 2007 profit to the sum of 356 306 584.9 rubles
To accept the NCSP Board of Directors proposal to pay dividends for 2007
To pay cash dividends for 2007 of 0.0185 rubles per one share.
To distribute dividends starting from September 1st, 2008
To elect members of the Board of Directors of NCSP:
Alexander A. Davydenko – chief of Federal Agency of sea and river transport of Transport Ministry of Russia
Georgiy A. Koryashkin – CEO of “NPV Engineering”
Yuriy V. Parfenov – CEO of FGUP «Rosmorport»
Alexander A. Ponomarenko – Chairman of the Board of Directors of NCSP
Sergey N. Pushkin – president of “Transkreditbank”
Vladimir G. Ulyanov – chief of internal control service of NCSP, prorector of Chernomorskaya Humanitarian Academy, professor of criminal procedure law department of Moscow State Law Academy
Alexander O. Chubarian – director of Institute of general history of RAN, president of State Universtity of Humanitarian Sciences
To elect members of Inspection Commission of NCSP:
Tatyana S. Vnukova – chief of planned-budget department of Moscow office of NCSP
Nadezhda E. Krasivicheva – deputy chief of financial and accounting department of Federal Agency of sea and river transport of Transport Ministry of Russia
Julia V. Maslova – chief of department of planning, deputy Head of Business-planning Division of Moscow office of NCSP
Tatyana P. Chibinyaeva – CFO of Moscow office of NCSP
Marina M. Yazeva – chief accountant of Moscow office of NCSP
To approve the Auditor of NCSP for 2008 – Deloitte & Touche
The issued share capital of NCSP is 192 598 154 rubles, which is divided into 19 259 815 400 shares of 0.01 rubles each.
Novorossiysk Commercial Sea Port (NCSP) is Russia's largest sea port operator by cargo turnover, according to Association of Sea Ports. NCSPs total cargo turnover in 2007 amounted to 79,4 mln. tons, according to consolidated results. NCSP is listed on London Stock Exchange and Russian stock exchanges RTS and MICEX. In 2007 NCSP had revenues of $483,4 mln. with EBITDA of $227,9 mln. and net profit of $93,7 mln. (consolidated results).
NCSP is the largest stevedore company of port Novorossiysk, a multi-purpose deep-water port complex located on the Black Sea, which provides year-round navigation. The port is a key Southern gateway for import and export of a wide range of cargoes (including oil, oil products, timber, grain, fertilizers, ferrous metals, containers, automobiles and general cargo). In 2007 NCSP has transshipped about 96% of all port Novorossiysk cargo.
NCSP owns the following stevedore companies: NZT Grain Terminal, NSRZ Ship Repair Yard, NCSP Fleet, NLE Timber & Container Terminal, IPP, Baltic Stevedore Co.