PJSC LukOil Result of BoD Meeting (1007Q)
16 October 2019 - 9:48PM
UK Regulatory
TIDMLKOD
RNS Number : 1007Q
PJSC LukOil
16 October 2019
LUKOIL BOARD OF DIRECTORS CONVENES
EXTRAORDINARY GENERAL SHAREHOLDERS MEETING
AND RECOMMENDS INTERIM DIVIDEND AMOUNT
At the Board of Directors meeting of PJSC "LUKOIL" held today,
the decision was taken to convene the Extraordinary General
Shareholders' Meeting (hereinafter, the Meeting) in the form of
absentee voting on December 3, 2019.
The agenda of the Meeting comprises ten items, including:
- On payment (declaration) of dividends based on the results of
the first nine months of 2019.
- On reducing the charter capital of PJSC "LUKOIL" through
acquisition of a portion of issued shares in order to reduce the
total number thereof.
The Board of Directors recommended that the Extraordinary
General Shareholders' Meeting resolve to pay dividends for the
first nine months of 2019 in the amount of 192 rubles per ordinary
share, and that the Meeting select December 20, 2019 as the record
date for the persons entitled to receive dividends. The dividends
are recommended to be paid in cash not later than January 10, 2020
to nominee shareholders and trust managers who are recorded in the
PJSC "LUKOIL" shareholder register, and not later than January 31,
2020 to other persons registered in the PJSC "LUKOIL" shareholder
register.
The Board of Directors also recommended that the Extraordinary
General Shareholders' Meeting resolve to reduce the charter capital
of PJSC "LUKOIL" through acquisition of a portion of issued shares
in order to reduce the total number thereof. The item has been
submitted to the Meeting for the purpose of cancellation of shares
acquired by LUKOIL Securities Limited (a 100% subsidiary of PJSC
"LUKOIL") as part of the buy-back programme completed on August 20,
2019.
Should the Meeting resolve on the matter, LUKOIL Securities
Limited will submit its PJSC "LUKOIL" shares for sale. The purchase
of the ordinary shares by the Company will be implemented via a
public offer according to Clause 1, Article 72 of the Federal Law
"On Joint-Stock Companies" at a price of RUB 5,300 per share. The
number of shares to be acquired is 25,000,000 shares. Acquisition
of such a number of shares and their cancellation will reduce the
charter capital of PJSC "LUKOIL" to 690,000,000 ordinary shares. If
more than 25,000,000 shares are submitted for sale, the acquisition
of shares will be implemented on a pro rata basis.
The record date for the persons entitled to participate in the
Meeting was set to November 8, 2019. Materials for the Meeting will
be available at the corporate web sites (www.lukoil.ru,
www.lukoil.com), as well as at the electronic voting service
(https://evoting.reggarant.ru/Voting/Lk) not later than November 2,
2019.
The Board of Directors also reviewed items on anti-corruption
measures, on the implementation of the Code of Business Conduct and
Ethics of PJSC "LUKOIL" and on the Company's adaptation to climate
change.
As part of the last item, member of the Board of Directors, Vice
President for strategic development L.A. Fedun reported on the
following topics: climate scenarios, global trends and approaches
of various countries to reduce greenhouse gas emissions,
development of climate legislation in the Russian Federation,
investment community position on climate, the factual reduction of
greenhouse gas emissions by the Company's entities in recent years
and the main sources of emissions, as well as preliminary
assessment of the Company's potential to reduce such emissions in
the long term. A decision was made to start working on setting
long-term goals to reduce greenhouse gas emissions taking into
consideration international best practice and economic
feasibility.
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END
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October 16, 2019 06:48 ET (10:48 GMT)
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