28.06.2017

PJSC “RUSSNEFT” SHAREHOLDERS APPROVED PAYMENT OF DIVIDENDS ON PREFERENCE SHARES

Corporate Governance

The corporate governance is viewed within PJSC “RussNeft” as a totality of the processes that are meant to ensure management and control of the Company`s operation for the benefit of its shareholders.

A system of Company`s corporate governance is aimed at creation and maintenance of reliable and trustworthy relations with investors and shareholders in order to enhance Company`s investment attractiveness. It is built on the principles of strict compliance with Russian legislation, protection of shareholders rights and interests, of fruitful cooperation with investors and business partners of the Company, as well as informational disclosure and transparency.

In order to enable the proper shareholders decision-making, the Company performs timely disclosure of complete and reliable information in compliance with Russian laws and adopted internal documents. Principles and procedures of PJSC “RussNeft” corporate governance are set out in the Articles of Association and number of other publicly available internal documents, which, in combination, provide for:

  • Equal opportunities for all shareholders in respect of the information access
  • Access of the shareholders and other stakeholders to complete and reliable information, including essential facts affecting the financial and economic activity of the Company
  • Protection of confidentiality and control over the unlawful use of proprietary information representing commercial secret of the Company.

The effective management, in particular the active and competent Board of Directors, plays an important part in the corporate governance system.


Governing bodies of the Company

In accordance with the Articles of Association of PJSC “RussNeft”, the General Shareholders Meeting is a superior governing body of the Company. The strategic guidance of the Company is conducted by the Board of Directors. The following committees are established under the Board:

  • Internal Audit Committee
  • Rmuneration and Nomination Committee

The operating performance of the Company is governed by the President (Chief Executive Officer).