MARKET OF SHARES AND BONDS
Nizhnekamskneftekhim Inc in its corporative activities follows a Corporative Conduct Code and adheres to its principal provisions.
An Authorized Capital (AC) of Nizhnekamskneftekhim Inc (NKNK) is RUR 1,830,239,750.00 and split into 1,830,239,750 shares of par value 1 ruble each including:
• 1,611,256,000 ordinary (voting) registered shares, Public Register Entry No. 1-02-00096-A;
• 218,983,750 preference registered shares, Public Register Entry No. 2-02-00096-A;
All shares have been allocated; the Authorized Capital has been completely paid-up.
A program to privatize Nizhnekamskneftekhim IC was approved by the Resolution # 41 of the RT State Property Committee on 11.08.93 pursuant to the Minutes # 25 of the RT State Property Committee Board dated 20.07.93.
According to the program, Nizhnekamskneftekhim IC was reshaped into an open joint-stock company per the first option of tax exemption. An Authorized Capital of the Company was set up as RUR 73,209,590.00 and split into 7,320,959 registered shares including 875,935 preference ones.
The current quotations of our shares can be looked at the following addresses:
• Russian Trade System
• Berlin Stock Exchange
28 December 1998, the Federal Securities Commission (FSC) registered the decision to convert NKNK shares of face-value 10 rubles into shares of face-value 1 ruble. 19 April 1999, FSC registered the Report on the results of splitting the face-value of NKNK shares.
19 September 2001, FSC registered the decision to issue, at the cost of extra capital, 1,546,805,760 ordinary and 210,224,400 preference shares of Nizhnekamskneftekhim Inc. 6 November 2001, FSC registered the Reports on the results of that share issuance.
In 2003, the share issues were consolidated: all ordinary shares were assigned a Public Register Entry No. 1-02-00096-A of 15.08.2003, all preference shares were assigned a Public Register Entry No. 2-02-00096-A of 15.08.2003.
At 05.03.2004, 10.5% of the Authorized Capital belongs natural persons and 89.5% to legal entities and nominal holders (Table 2).
As of 14 April 1997, the ordinary shares of the Company have been quoted in the Russian Trade System.
In 1998, the ADR's-1 were issued for NKNK shares and offered for quotation at the Berlin Stock Exchange. They were issued in terms of 10 NKNK ordinary shares per1 ADR. In accordance with the Deposit Agreement signed, the ADR program Depository is “The Bank of New York”; a package of documents indispensable for registration of ADR's as per the Agreement signed was prepared by “Cleary, Gottlieb, Steen & Hamilton” firm.
In 1998, a Contract was made with the international auditing firm “PricewaterhouseCoopers Audit”, and financial reporting of NKNK in compliance with the international financial standards was audited for the years 1995- 2002. A Contract has been signed to audit NKNK financial reporting for the year 2003.
To develop its equity market, NKNK established “ Nizhnekamskneftekhim & Company” Commandite in 1997. As contributions to the Commandite Compiled Capital from the Company's employees and a result of buying-up, it accumulated 295,020,324 NKNK ordinary shares, which constitutes 16.1% of its Authorized Capital. Some portion of the Commandite 's stock is used as collateral for crediting by Sberbank RF of NKNK Ethylene Plant upgrading and Polystyrene Plant construction.
Dynamics of dividend payments on NKNK shares
(in % to share face-value)
Shares
|
Year
|
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 (plan) |
Ordinary registered |
55.0 |
60.0 |
- |
40.0 |
40.0 |
50.0 |
150.0 |
5.4* |
5.4* |
6.2* |
Preference registered |
55.0 |
60.0 |
150.0 |
150.0 |
150.0 |
150.0 |
150.0 |
6.0* |
6.0* |
6.2* |
* - in the year 2001, number of NKNK shares increased 25 times
LIST of Shareholders of Nizhnekamskneftekhim Inc at 05.03.2004
¹ |
Description |
Number of Shares
pcs |
% to Authorized Capital |
% of Voting Shares |
1. |
“Svyazinvestneftekhim” Inc (nominal holder – Central Depositary RT) |
644,331,175 |
35.2 |
40.0 |
2. |
“Tatar-American Investment & Finance” Inc |
183,712,600 |
10.0 |
11.4 |
3. |
MKB “Avers” Ltd (nominal holder) |
55,550,000 |
3.0 |
3.4 |
4. |
Private JS “NIKoil” Depository Company”
(nominal holder) |
153,251,395 |
8.4 |
9.5 |
5. |
“Nizhnekamskneftekhim-Service” Ltd |
77,490,305 |
4.2 |
4.8 |
6. |
“Nizhnekamskneftekhim & Company.” Commandite |
295,020,324 |
16.1 |
18.3 |
7. |
Other legal entities and nominal holders |
228,312,890 |
12.6 |
5.9 |
8. |
Individuals (over 16 000) |
192,571,061 |
10.5 |
6.7 |
Shares Total |
1,830,239,750 |
100.0 |
|
Inclusive of Voting Shares |
1,611,256,000 |
|
100.0 |
Bonded debts of «Nizhnekamskneftekhim» Inc
In November 2001, the Company allocated its first bonded stock amounting to RUR 300 MM , repaid in November 2002.
24.05.2002, «Nizhnekamskneftekhim» Inc allocated its second bonded stock amounting to RUR 1,500 MM with repayment period of 3 years and semiannual coupon disbursements. The second bonded debt was coupon-disbursed on 22.11.2002, 26.05.2003 and 24.11.2003.
02.09.2003, «Nizhnekamskneftekhim» Inc allocated its third bonded stock amounting to RUR 2,000 MM with repayment period of 4 years and quarterly coupon disbursements. The third bonded debt was coupon-disbursed on 02.12.2003 and 02.03.2004.
