7 April 2017
Today, on 7 April 2017, PJSC Kazanorgsintez hosted the Annual Shareholders Meeting summarizing the Company’s performance in 2016. The Meeting was attended by Tatarstan President Rustam Minnikhanov and representatives of the republic’s ministries and agencies.
General Director of PJSC Kazanorgsintez Farid Minigulov reported on the Company’s 2016 performance. He emphasized that the previous year ended up bringing successful financial results to the Company.
In the reporting year, the Company manufactured commercial products worth RUB 75.2 billion, thus exceeding the corresponding 2015 indicator by 6.4 billion (i.e. 9.4%). Index of physical volume of production amounted to 104.1 %. The Company’s net profit in 2016 reached RUB 18.170 billion.
In 2016, the commercial products structure changed insignificantly compared to that of 2015. The main share in the commercial products structure belongs to ethylene polymers and polycarbonates (87.7% in value terms).
The Company makes payments to various budgets and pays out wages timely and to full extent.
The shareholders approved the Annual Report and annual accounting (financial) statements of PJSC Kazanorgsintez for 2016.
The shareholders approved the distribution of the Company’s net profit. The decision provides for the dividends payout for the Company’s shares in the amount recommended by the Board of Directors:
– preference shares: RUB 0.25 per share;
– ordinary shares: RUB 5.0726 per share.
The following candidates to the Board of Directors were elected during the Meeting:
– Sergey V. Alekseyev, First Deputy General Director, JSC Svyazinvestneftekhim;
– Marat M. Garayev, General Director, LLC Gazprom Pererabotka;
– Artyom A. Zdunov, Minister of Economy, Republic of Tatarstan;
– Albert A. Karimov, Deputy Prime Minister and Minister of Industry and Trade, Republic of Tatarstan;
– Farid G. Minigulov, General Director, PJSC Kazanorgsintez;
– Milic Zeljko, Executive Director, IPCO-TRADING S.A.;
– Vladimir V. Presnyakov, Deputy General Director, PSC TAIF;
– Aleksandr L. Rappoport, Managing Partner, Rappoport and Partners Law Firm;
– Dmitry I. Teslenko, Head of Finance and Economic Division, PSC TAIF;
– Ruslan A. Shigabutdinov, Deputy General Director, PSC TAIF.
Based on the Golden Share right, Rinat K. Sabirov, Aide to the Tatarstan President, was appointed as the Board member representing the Government.
The shareholders elected the following members of the Company’s Audit Committee:
– Tatyana A. Barchenkova, First Category Economist, Finance and Economic Division, PSC TAIF;
– Aida R. Gandrakhmanova, Head, Planning and Economy Department, PJSC Kazanorgsintez;
– Olga V. Ignatovskaya, Chief Accountant, PSC TAIIF;
– Yulai R. Minnullin, Head, Department of Economic Analysis and Project Management, Ministry of Economy, Republic of Tatarstan.
Based on the Golden Share right, Fanis G. Gabdulkhakov, Head of Economic Analysis Department at Tatarstan Ministry of Finance, was appointed as the Audit Committee member representing the Government.
The Board appointed JSC PricewaterhouseCoopers the Company’s auditor.
The Annual General Shareholders Meeting was followed by the first meeting of the Board comprising its newly-elected members. At the suggestion of Tatarstan President Rustam Minnikhanov, the Board of Directors elected Ruslan A. Shigabutdinov as its Chairman.
For reference: PJSC Kazanorgsintez is one of the largest enterprises in the Russian Federation (member of TAIF Group). The Company produces over 40% of all Russian polyethylene thus being the leading exporter thereof. At present, the Company produces polyethylene and pipes thereof, phenol, acetone, bisphenol A, as well as polycarbonates. The overall products list includes 170 items. The Company’s annual output amounts to 1.6 million tons.