Bashneft’s Board approved a number of related-party transactions

The extraordinary general meeting of shareholders of Bashneft has approved the rules and regulations on the general meetings of shareholders in new editions.

The meeting was held yesterday in the form of voting by correspondence.

According to Bashneft, the necessity of actualization of these documents is connected with the changes of the federal law “On joint stock companies” and the consecutive implementation of recommendations of the Corporate management Code by Bashneft.

The meeting of shareholders approved a number of party-related deals connected with a possible participation of the company along with VTB in the program of supporting investment projects on the basis of project financing; with the signing of an additional agreement with VTB on the issue of bank warranties; with the signing of a liability insurance agreement of directors and companies as well as with financing of Bashneft-Polyus Ltd that develops the Trebs and Titov deposits.