Gazprom's top managers meet with shareholders from Orenburg and Krasnodar
Meeting with the Company’s shareholders from the town of Krasnodar
In the course of preparations for the annual General Shareholders’ Meeting due 24 June 2005, Gazprom’s top managers today have met with the Company’s shareholders from the town of Krasnodar. An identical meeting in the town of Orenburg is slated for June 9.
Traditional meetings with the regional stockholders are an integral part of Gazprom’s shareholder-oriented policy based on the corporate data openness and fair disclosure principles.
Over a thousand shareholders are taking part in meetings with Gazprom’s leadership, this year.
Headed by Olga Pavlova, Member with Gazprom’s Management Committee and Head of the Company’s Asset Management and Corporate Relations Department, the Company’s delegation included representatives of the departments overseeing corporate production, financial & economic and marketing businesses as well as experts from Gazprombank.
In the course of the meeting in Krasnodar, Gazprom’s representatives informed the shareholders of the corporate operating results over 2004, development prospects & strategic priorities and took questions.
Addressing the shareholders, Olga Pavlova stressed that the year 2004 had been the biggest success for Gazprom over its entire corporate history. The Company recorded better achievements in almost all its businesses and that fact did not remain unnoticed by the stock market players. Over 2004, the value of the corporate ADR and securities grew 37% and twofold, respectively, on the London Stock Exchange and Russian stock markets, respectively. As a result, Gazprom’s capitalization reached $67.48 bln by year-end 2004. At the same time, the corporate RTS index, which reflects the Russian stock market dynamics as a whole, jumped only 8.26% within the same period.
Additionally, Olga Pavlova underscored that the parent company’s 2004 net profit totaled RUR 161 bln. In this regards, the Board of Directors advised the Shareholders’ Meeting to endorse the proposal to pay out RUR 1.19 per share in annual dividends, as of the reporting period end. In case of approval by the Shareholders’ Meeting, the dividend amount will be the biggest one over the entire corporate history.
Background
12.4 thou and 13.9 thou shareholders of Gazprom, owning 76 mln and 94 mln shares, respectively, are currently on the corporate record in Krasnodar and Orenburg, respectively.
Information Directorate, OAO Gazprom