Gazproms Shareholders’ Meeting resolves to amend corporate articles
Gazprom’s Extraordinary Shareholders’ Meeting held in absentia resolved to amend the corporate Articles of Association.
In accordance with its Resolution, the Meeting abolished those provisions of the Articles governing the procedure of buying out shares from other stockholders by the member owning a more than 30% stake of Gazprom. In addition, Gazprom’s shareholders are now exempted from the liability to buy out shares when acquiring an over 30% stake and every 5% of shares to follow.
The Meeting was attended by the stockholders controlling a total of 19,857,303,837 shares, which is 83.88% of their overall amount. As of 30 September 2004, the shareholders owning 23,673,512,900 were also included in the list of stockholders entitled to take part in the Shareholders’ Meeting.
The voting results to amend Gazprom’s Articles were as follows: 99,0999% (for), 0,7191% (against) and 0,0949% (abstained).
The decision to amend Gazprom’s Articles of Association has stemmed from the RF Government’s proposal to boost the State portion in Gazprom’s authorized capital by transferring to the latter a 100% stake of the Rosneft state-run company. At present, Gazprom is more than 30% State-owned. Article 80 of the Joint Stock Companies Law allows shareholders to be exempt from the liability to buy out shares provided respective amendments are made to a firm’s corporate documentation.
On 28 September 2004, Gazprom’s Board of Directors adopted a resolution to convene an Extraordinary Shareholders’ Meeting in absentia and identified 16 November 2004 as the filled out ballots submission deadline.
The list of persons and entities entitled to take part in the Meeting was composed based on Gazprom’s Shareholders’ Register as of 30 September 2004 business day end.
Information Directorate, OAO Gazprom