Events After The Balance Sheet Date

In January 2013 the Group pledged 30% of its stake in NFT and provided a guarantee in the amount of 55,000 as collateral for a credit line obtained by NFT from Raiffeisenbank

In January 2013 NFT repaid to the Group the principal balance on loans that existed prior to year end 2012 (Note 15) in the amount of 45,000. Accrued interest on these loans was refinanced to mature on 31 March 2020.

On 19 March 2013 the NCSP Board of Directors made the following decisions:

  • To appoint Grishanin M.S. (First Vice-President of OJSC Transneft) the Chairman of the Board of Directors NCSP;
  • To suspend authority of the Chief Executive Officer Rado Antolovich;
  • To appoint Matvienko Y.V. acting Chief Executive Officer, former Executive Director of NCSP; and
  • To establish the Executive Board in the quantity of five members.

In April 2013, the Group and the government agency Rosmorport signed an investment agreement for engineering works to upgrade certain facilities in Novorossiysk port. The Group committed to finance the engineering works in the amount of 62,556.

On 15 April 2013 the NCSP Board of Directors recommended to the annual shareholders’ meeting to approve dividends in the amount of 14,978 (RUR 454,916 thousand).

  © PJSC «Novorossiysk Commercial Sea port» 2013