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June 25, 2019, 4:27 p.m. EDT

Russian Federation : Lukoil Holds Annual General Shareholders Meeting

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Jun 25, 2019 (Euclid Infotech Ltd via COMTEX) -- PJSC "LUKOIL" held its Annual General Shareholders Meeting (AGM) in Moscow where the 2018 Annual Report of the Company and the 2018 financial statements were approved, as well as decision on distribution of profit for 2018 was made.

The shareholders approved the final dividend distribution based on the results of 2018 in the amount of RUB 155 per ordinary share. The total amount of dividends payable for 2018, including the earlier paid interim dividend, will be RUB 250 per ordinary share, which is 16% higher than last year's level. The Company shareholders also elected the Audit Commission, decided on remuneration and reimbursement of expenses to the members of the Board of Directors and on remuneration to the members of the Audit Commission. The Joint-Stock Company KPMG was approved as the Company's independent auditor.

The Meeting approved new edition of the Regulations on the Procedure for Preparing and Holding the General Shareholders Meeting of PJSC "LUKOIL" and gave consent to perform the interested party transaction (directors, officers and companies liability insurance contract). Shareholders also decided on reduction of the charter capital through acquisition of 35 million ordinary shares in order to reduce the total number thereof. At its post-AGM meeting the Board elected Valery I. Grayfer as Chairman and Ravil U. Maganov as Vice Chairman of the Company's Board of Directors.

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