Results of NOVATEK Board of Directors
MOSCOW, Sept. 6, 2013 /PRNewswire/ -- OAO NOVATEK ("NOVATEK" or the "Company") today announced the results of its Board of Directors ("the Board") meeting held in Sabetta, Yamal- Nenets Autonomous District of Russia.
The Board discussed the Company's results for the first half 2013 and decided to convene an Extraordinary General Meeting of Shareholders ("EGM") in the form of absentee voting on 22 October 2013 to approve the interim dividends for the first half 2013.
The record date for the EGM is 16 September 2013.
The Board recommended to the EGM to approve interim dividend payment for the first half 2013 in the amount of RR 10,323,440,400, which is RR 3.40 per one ordinary share or RR 34.0 per one GDR. This represents a 13.3% increase compared to the six months 2012.
OAO NOVATEK is Russia's largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, NOVATEK is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Its upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world's largest natural gas producing area and accounts for approximately 90% of Russia's natural gas production and approximately 17% of the world's gas production. NOVATEK is an open joint stock company established under the laws of the Russian Federation. NOVATEK's shares and GDRs are listed on MICEX-RTS Stock Exchange in Russia and the London Stock Exchange (LSE), respectively, under the ticker symbol "NVTK".
SOURCE OAO NOVATEK