Russneft: Board of Directors Extend the Powers of Company President Evgeny Tolochka for Another Five Years

Prior to that, in 2014-2015, he worked as Deputy General Director for Production at NK Neftisa JSC. In June 2015, he was appointed Vice President for Production and Geology at Russneft.

At the end of September, the shareholders of Russneft at an extraordinary meeting re-elected the company’s board of directors.

In the authorized capital of PJSC Russneft, businessman Sait-Salam Gutseriev (brother of Mikhail Gutseriev) owns about 25% through Vemonar Holdings Limited, and 8.3% is owned by the investment holding SFI (MOEX: SFIN) (formerly PJSC Safmar Financial Investments) – directly and through its subsidiary Weridge Investments Limited. Another 23.5% of the company’s capital is controlled by trader Glencore. The owners of the company’s preferred shares are the Bank of Russia Trust Bank – 16.52% (19.23% in the authorized capital) and Business Finance LLC (owned by VTB Bank (MOEX: VTBR) – 8.5% (corresponds to the share in the authorized capital 20% of ordinary shares of NK (15% of the authorized capital) are in free circulation.