Pertaining to the results of a concluded consultation, both the Board of Directors and key stakeholders have mutually agreed that the 2021 Annual General Meeting should be hosted via an online teleconference with absentee voting, as per the previous assembly in 2020. The event shall be hosted on the previously scheduled date of 9 April, with no changes to any items on the agendum, including motions to alter the Director’s remuneration policy and the appointment of an external auditor for the financial year. It is also still intended that Rusneftegaz publishes its 2020 Consolidated Financial Statements prior to the Annual General Meeting, which are then to be analyzed by the Board of Directors during the conference with an approval vote being held accordingly. It is preferred that all ballots for the Annual General Meeting shall be sent electronically, and all interested parties are to be contacted shortly with instructions as to how to submit their votes, although a postal option is available upon request. All competed ballots must be transmitted to the relevant officer by the close of business on 8 April. Any questions in regards to these changes should be directed via email or telephone.
For the fourth quarter, the company can declare operational data in the following divisions:
Oil and Gas:
All production data is unaudited and derived from internal operations reports.
Rusneftegaz has resumed full working operations following the end of the annual shutdown, with the Group and its affiliates striving to respond to all communications within one working day. We appreciate your understanding and cooperation throughout this time.
As a result of the ongoing coronavirus pandemic, the Board of Directors has resolved that additional measures should be taken to guarantee the future wages of our workforce. As a result, Rusneftegaz obtained a loan facility worth $25.0m on 11 December 2020, secured with a charge on the Group's assets. The agreement bears an interest rate of 3.9% and will mature after five years. The proceeds of this loan have been approved to be isolated in an independent bank account, and are only to be used to pay the wages of salaries of employees if there are insufficient funds to otherwise meet these costs. The financial effects of the pandemic have affected the Group considerably and will result in revenues and profits being significantly below projections at the beginning of the year. However, said loaned funds are not expected to be utilized by the Board of Directors in the near-term, and remain solely as an emergency contingency.
Earlier this month, Rusneftegaz celebrated the achievements of our staff throughout the last year by bestowing awards upon worthy winners. In lieu of the annual ceremony that is normally held every year at the beginning of December, prizes were distributed by their contemporaries instead of executives, all whilst adhering to the appropriate coronavirus mitigation procedures. All of the 2020 winners were nominated by their managers in recognition of their hard work and or outstanding contribution to company development, with Georgi Alekseev and Martin Kozlov being named as employee and young employee of the year respectively. As a result of the ongoing pandemic, senior officials also elected to present an additional seventeen members of staff with special commendations for their exceptional work to keep Rusneftegaz functioning over the past twelve months. The Group will continue to endeavor to acknowledge the efforts of our workers, and is grateful to all of them for another year of success. We wish all of them a Merry Christmas and a Happy New Year.