Press Release

Press Release

Board of Directors considered issues of preparation for the Annual Shareholders Meeting.

On March 21, 2014, the Chairman of the Board of Directors of OAO Kazanorgsintez Ruslan Shigabutdinov chaired the regular meeting of the Company’s Board of Directors.

The meeting dealt with the issues related to the annual financial statements including Income Statement of OJSC Kazanorgsintez of 2013, the audit report on the Russian Accounting Standards and the report of the Audit Commission of OJSC Kazanorgsintez of 2013.

The Board of Directors preliminary approved the annual statement of OJSC Kazanorgsintez at financial year-end 2013.

The Board of Directors issued the recommendation to direct 30 percent of the Company’s net profit to pay dividends in followup of the financial and economic activities in 2013.

The Board of Directors considered the recommendations issued to the Annual General Meeting of Shareholders on the procedure of the net profit distribution at financial year-end 2013, including:

• following the amount of dividends of OJSC Kazanorgsintez shares, as well as terms and conditions of their payment;
• following the amount of remunerations paid to the members of the Board of Directors, members of the Committees, members of the Executive Directorate and members of the Audit Commission of OJSC Kazanorgsintez.

The Board of Directors also considered the recommendations on:

• determination of the date to draw a list of persons liable to receive dividends for 2013;
• and determination of the format and text of voting bulletins regarding the issues on the agenda of the Annual General Meeting of Shareholders of OJSC Kazanorgsintez.