Shareholders are expected to approve the company's annual report, financial statements - including the profit and loss statement to Russian Accounting Standards - as well as profit distribution, including dividend payment, and the company's losses in the financial year 2005.
The meeting is also expected to elect a new board of directors and an internal audit committee, and select an auditor for 2006.
In 2005, Novatek produced some 25.2 bln cu m of natural gas and 2.586 mln metric tons of gas condensate and oil. The company's charter capital, which stands at 303.63 bln rubles ($10.99 bln), is divided into 3,036,306 shares worth 100 rubles ($3.62) each. Its shareholders include Levit Co., which owns a 36.43% stake.
Novatek is the second largest gas company in Russia after Gazprom. Its natural gas reserves are put at 1.6 trillion cu m and its oil reserves total an estimated 259 mln metric tons.
