28 June 2017, 10:23

Moscow. At the Annual General Meeting, PJSC “RussNeft” shareholders approved payment of dividends on the preference shares for 2016 in amount of $0.40803 per share, according to Interfax report from the meeting.

     The dividends are allocated in a quite unusual way for the Russian practices – in US dollars.

     As per the Articles of Association of the Company, it may pay the dividends in US dollars by the decision of the shareholders meeting. Should the currency law of the RF ban the dividends payment in a foreign currency, the payment shall be performed in Russian rubles as per the currency exchange rate set by the Central Bank as of the date of the actual payment of the dividends by the Company.

     $39,999,996.96 will be allocated for payment of dividends on the cumulative preference shares and RUB 4,804,000 will be assigned to the reserve fund.

     The record date for the dividends payment purpose is July 17.

     The charter capital of PJSC “RussNeft” is RUB 196.22 million. It is split into 294.12 million ordinary shares and 98.032 million preference shares with a nominal value of 50 kopeks each. Following the IPO results late in November, Gutseriev family owns 60% of the charter capital (47% of the ordinary stock), Glencore plc trader controls 25% of the capital (33% of the ordinary stock), and 20% of the ordinary shares (15% of the charter capital) are in free flow.

     Following the 2016 results, the Company gained RUB 14.9 billion of net profit under IFRS.

     In late November 2016, Belyrian Holdings Limited and its subsidiaries under a beneficiary ownership of Gutseriev family sold 20% of the ordinary shares of PJSC “RussNeft” (15% of the charter capital) at the Moscow Exchange (MOEX: MOEX).

     In particular, Belyrian Holdings Ltd sold 6.41% of the ordinary shares owned directly. Bradinor Holdings Ltd (5.426%) and Cromeld Management Ltd (7.48%) also sold their stocks in the Company and are no longer shareholders of PJSC “RussNeft”.

     Neither the company, nor the IPO organizers disclosed the identities of the purchasers.