Kravchenko: Small shareholders to be paid
The Serbian Oil Industry (NIS) administration stated that it is prepared to pay small shareholders for their shares in the company.
Sunday, 16.08.2009.
14:08
The Serbian Oil Industry (NIS) administration stated that it is prepared to pay small shareholders for their shares in the company. NIS added that the price will not be less than it was during the privatization of the company. Kravchenko: Small shareholders to be paid NIS CEO Kirill Kravchenko said that all of the auditing reports on how the company did financially in 2008 will be finished by early November. He told the Tanjug news agency that there are clear conditions of the small shareholders agreement which guarantee that the price of the shares will not be less than what Russia's Gazprom Neft paid, which is EUR 96 per share. “The concrete price will be defined according to the results of the three-month trading right before the sale, that is why it can be either the same or greater,” Kravchenko said, adding that the management will put in efforts to make the price higher. He also said that according to the agreement with the Finance Ministry, the final balance of NIS’s business activities for 2008 is expected by December 1. The report will be sent to the National Bank of Serbia after the NIS board of directors approves it. “As far as introducing relations with auditors, the company management is completing the decisions of the board of directors and is doing everything it must to enable its implementation on the level of shareholders, and to solve this in the shortest amount of time possible,” Kravchenko said. Gazprom's oil arm, Gazprom Neft, bought Serbia's state-owned oil monopoly NIS earlier this year. Kirill Kravchenko (Beta archive)
Kravchenko: Small shareholders to be paid
NIS CEO Kirill Kravchenko said that all of the auditing reports on how the company did financially in 2008 will be finished by early November.He told the Tanjug news agency that there are clear conditions of the small shareholders agreement which guarantee that the price of the shares will not be less than what Russia's Gazprom Neft paid, which is EUR 96 per share.
“The concrete price will be defined according to the results of the three-month trading right before the sale, that is why it can be either the same or greater,” Kravchenko said, adding that the management will put in efforts to make the price higher.
He also said that according to the agreement with the Finance Ministry, the final balance of NIS’s business activities for 2008 is expected by December 1. The report will be sent to the National Bank of Serbia after the NIS board of directors approves it.
“As far as introducing relations with auditors, the company management is completing the decisions of the board of directors and is doing everything it must to enable its implementation on the level of shareholders, and to solve this in the shortest amount of time possible,” Kravchenko said.
Gazprom's oil arm, Gazprom Neft, bought Serbia's state-owned oil monopoly NIS earlier this year.
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