PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS and MICEX: NMTP) today announces the results of its Annual General Meeting of Shareholders held on June 5, 2009.
Shareholders representing 18 182 124 272 of NCSP’s voting shares (as registered by the time of the meeting’s opening), which accounts for 94.4% of the total number of outstanding voting shares of NCSP (19 259 815 400 shares), participated in the meeting.
The following decisions were passed as per the agenda of the meeting:
• To approve the Annual report of PJSC NCSP for 2008 (unconsolidated).
• To approve the annual financial accounts, including the Profit and loss statement (unconsolidated), of NCSP for 2008.
• To approve the distribution of profit for 2008 (unconsolidated) as follows: 1 428 605 085.56 rubles shall be allocated for future development of PJSC NCSP, and 510 385 108.1 rubles shall be allocated for payment of dividends for 2008.
• To accept the proposal of the Company’s Board of Directors to pay dividends for 2008 in cash in the amount of 0.0265 rubles per share starting from September 1, 2009.
• To elect the Board of Directors of PJSC NCSP consisting of 7 persons:
• To elect The Auditing Commission of PJSC NSCP, consisting of 5 persons:
• To approve Deloitte & Touche CIS as the Company’s Auditor for 2009.
• To approve remuneration to members of the Board of Directors and the Auditing Commission of PJSC NCSP in the amount of 40 000 rubles and 12 000 rubles per year respectively, for the period of performing their duties as Directors and members of the Auditing commission.
Novorossiysk Commercial Sea Port is the largest Russian port operator in terms of cargo turnover. Group’s consolidated cargo turnover in 2008 totaled 81.6 million tonnes. Consolidated revenue to IFRS for the 2008 totaled $653.777 million.
NCSP shares are traded on Russia’s RTS and MICEX exchanges (NMTP) and on the London Stock Exchange (NCSP) in the form of GDRs (1 GDR representing 75 shares).
NCSP Group includes the following stevedore companies: PJSC NCSP, PJSC Novorossiysk Grain Terminal, OJSC Novorossiysk Ship Repair Yard, PJSC NCSP Fleet, OJSC Novoroslesexport, OJSC IPP, and Baltic Stevedoring Company Ltd.