Naftan, Polymir shareholders to decide on amending Naftan authorized fund

A joint general meeting of shareholders of the Naftan and Polymir companies will take place in Novopolotsk on November 28, BelTA learnt from Chairman of the Supervisory Board of the Naftan company Viktor Menshov. The agenda of the meeting includes four issues related to the merger of Polymir with Naftan. The shareholders are set to decide on the amendment of the Naftan authorized fund, approve the decision on additional issue of Naftan shares and on their distribution among the Polymir shareholders. The issue of introducing amendments and addenda to the charter of the Naftan company will be submitted for the shareholders’ consideration as well. As part of Naftan, the Polymir company is supposed to remain an independent structural subdivision with its own settlement account. At first Polymir will keep independent accounting and statistics. According to Viktor Menshov, the trademark Polymir will be preserved. n The personnel of Naftan will exceed 11,000 after the merger. “There will be no redundancies,” Viktor Menshov assured. More so, Polymir personnel will get access to the well-developed social infrastructure of Naftan. According to Svetlana Lukashevich, deputy director of the Vitebsk oblast territorial fund of state-run property Vitebskoblimuschestvo, the reorganization will help the two companies find a strategic investor for large-scale production modernization. According to the economy committee of the oblast executive committee, Polymir and Naftan need $1.8 billion and $600 million respectively to implement technical upgrade projects. Belneftekhim is considering the selling of the shares of these companies in package and investing in the single economic entity.

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