Management Committee addresses Gazprom’s annual General Shareholders Meeting related issues


The Gazprom Management Committee addressed the issues associated with preparing and holding the Company's annual General Shareholders Meeting.

The Management Committee approved the proposal to convene the annual General Shareholders Meeting of Gazprom at 10:00am (local time) on June 24, 2011 at the Company's headquarters in Moscow. Registration of the meeting participants is to be carried out on June 22 (from 10:00am to 5:00pm) and on June 24 (from 9:00am).

In addition, the Management Committee approved the proposals on:

  • the wording of the Shareholders Meeting notice;
  • the format and wording of the ballots for voting on the Shareholders Meeting agenda issues;
  • the Shareholders Meeting Presidium composition;
  • the remuneration of the Board of Directors and the Audit Commission;
  • a list of information materials to be distributed among Gazprom's shareholders after scrutiny by the Board of Directors. The materials will be presented to shareholders at the Company's headquarters, at the Company's registrar – SR-DRAGa and in regional depositaries of Gazprombank (Open Joint Stock Company) 20 days before the Shareholders Meeting date. The locations of SR-DRAGa and regional depositaries will be published in the Meeting notice.

The aforementioned proposals will be submitted to the Board of Directors.

The Management Committee submitted to the Board of Directors for consideration the Gazprom (parent company) 2010 Accounting Statements compiled in accordance with the requirements of the Russian legislation, as well as the following draft documents:

  • the Shareholders Meeting agenda;
  • Gazprom's 2010 Annual Report;
  • distribution of Gazprom's net profit based on the 2010 operating results.

The Management Committee approved membership of the Shareholders Meeting Drafting Commission.

The Management Committee produced proposals (to be forwarded to the Board of Directors) on the dividend distribution based on Gazprom's operating results over 2010. The decision on the dividend amount and allocation method will be adopted by the Shareholders Meeting as recommended by the Board of Directors.

The Management Committee approved and submitted to the Board of Directors draft amendments in the Gazprom Articles of Association. Amendments in the document are driven by the modifications and updates introduced into the Federal Law On Joint Stock Companies in 2010.

In particular, the draft amendments in the Gazprom Articles of Association set new deadlines for the dividend distribution: up to 60 days from the day of the payout decision and the Gazprom obligation on the simultaneous dividend payout to all of the Company's Shareholders.

At present, Gazprom's Register of Shareholders includes several hundred thousand Russian and foreign shareholders. Taking this into account, shareholders are advised to exercise their right to take part in the Meeting via their trustees by proxy or via a filled out voting ballot sent to the Company.

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