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17 August, Thursday

Ufa   °

"Bashneft" has finished transition to the unified share

Business

JSC ANK "Bashneft" finished all stages of reorganisation in the form of joining of affiliated companies. The company received notifications on the termination of "affiliates" activity as independent legal bodies.

“We are satisfied that "Bashneft" transition to the unified share passed as transparent as possible, with observance of interests of all securities owners of the company and the labour rights of its employees,” the Chairman of the Board of Directors Felix Yevtushenkov announced.

In October the next session of the company Board of Directors will take place where reports on results of additional shares issuance into which shares of affiliated companies were converted would be confirmed, the press-service of "Bashneft" informs.

It should be reminded that on March 11,  JSC ANK "Bashneft" announced the beginning of reorganisation in the form of affiliated companies joining — JSC «Ufa Oil Refining Plant», "Novoil", "Ufaneftechim", "Bashkirnefteprodukt" and "Orenburgnefteprodukt". On April, 26-27th extraordinary general meetings of shareholders of all companies made the decisions on reorganisation. On June 26, the companies participating in reorganisation finished the shares repurchasing from the shareholders who claimed according to the legislation the repurchase of shares.

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