After following developments diligently during the coronavirus pandemic, the board of directors has elected to extend the current shutdown for an indefinite period. Accordingly, all Rusneftegaz offices shall remain closed until further notice, with those employees working remotely continuing to do so until it is possible to return. In response to these closures, the Deputy Chief Executive Officer, Aleksandr Filyurin, gave the following remarks: 

“It is clear to us now that it any return to normality within the next few weeks is highly unlikely, and as a board, we think that it is in our best interest to keep our offices closed on our own terms. We have done a large amount of work to create the current remote working arrangements, and think there is no reason to change this, especially with the risk that we may be forced to return to these arrangements again if we do reopen and the number of cases increases again. Once again, I would like to place on record my thanks to all our staff during this tough time. That includes all our staff who have adjusted to remote working, but all our staff who continue to work normally as part of our production teams. I pray to God that you all remain safe and healthy during this time.” 

As a result, our organization will continue to have a limited capacity to respond to non-urgent electronic and telephone communications, and necessitates the understanding of those affected at this time. All separation measures that came into effect at the end of March for those still currently working, including temperature checks and use of hand sanitizer, will remain in force for the foreseeable future. All of these procedures are constantly under review, and may be heightened if it is deemed necessary. Any questions regarding this announcement or any of these policies may be directed to us via the usual channels, if necessary, which are not limited to but including both email and telephone.

After an extensive consultation with all key stakeholders, the board of directors has resolved to hold the 2020 annual general meeting on 29 May via absentee voting. A new information pack will be dispatched to all participants within one week of this announcement, including any ballot papers for those who hold the right to participate in the event. Each voter will then have a six-week period to return the completed polling paper, which will then be tallied prior to the commencement of the session. Following this announcement, our Deputy Chief Executive Officer, Aleksandr Filyurin, issued this statement: 

“I am pleased that we have been able to make these changes to the AGM (annual general meeting) to make sure that it goes ahead as planned. Let us be direct about this, it is far from being an ideal situation, but these are unprecedented times and we know that we need to do things differently. I would like to place on record my thanks to all our stakeholders, who have been very accommodating to all these changes, and have been in regular contact with us since the pandemic started. I am optimistic that we will be able to host an EGM (extraordinary general meeting) later this year so that we will have a chance to hold the talks that were planned before all this started.” 

The agenda for the 2020 annual general meeting, which was initially scheduled to be held on 10 April, is unchanged from the original as before. As such, shareholder consensus is sought to ratify the amendments to the executive remuneration policy, and also to approve an auditor for the next fiscal year. There will likewise be an opportunity to review and endorse the 2020 consolidated financial statements, although it should be noted that said documents have already been submitted to the relevant authorities for legal reasons. All attendants will be notified of these changes electronically and in writing, and interested parties are free to submit questions in regards to these new plans. We necessitate your cooperation and understanding with these important affairs.

Regarding the update from last week, a further executive order has been issued resulting in an extension to the shutdown period until 30 April. As such, all Rusneftegaz offices are to remain closed, and as a result our organization will continue to have a limited capacity to respond to any non-urgent communications. Following this announcement, our Deputy Chief Executive Officer, Aleksandr Filyurin, gave these remarks: 

“It is obviously very important that we remain closed considering the circumstances. It is a very concerning time for all of us, and we do not want anyone to become sick, or worse. I urge all our staff to be vigilant and to be strong at this time, and to follow all the rules at all times. I would like to place on record my thanks to all our staff, who are working hard despite the obvious challenges. I would especially like to thank all our staff that are continuing to work as normal, whose efforts are extraordinary and are making us all proud. Together, we will come back stronger from this.” 

Pertaining to the electronic communications received previously, all employees that were instructed to continue reporting to work on 26 March should continue to do so as normal. Any staff queries regarding this announcement should be directed to the appropriate manager, and although we can still accept questions from third parties via all the conventional means, please be aware that there may be a delay in response time. We necessitate your cooperation and understanding with this matter during this difficult period.

After consultation with a significant proportion of interested parties the board of directors has elected to adjourn the planned annual general meeting, which was scheduled to be held in Moscow on 10 April, until further notice. Recent developments with regards to the ongoing coronavirus pandemic have made it logistically impossible to hold such an event at this unprecedented time, although the 2020 consolidated financial statements are still expected to be published on 7 April electronically. In the aftermath of this change, our Deputy Chief Executive Officer, Aleksandr Filyurin, gave the following statement: 

“It is obviously extremely disappointing that we are having to postpone our AGM (annual general meeting), but it is something that we have been preparing for considering everything that is happening at the moment. Obviously, the situation is changing very rapidly, and we are all doing our best to keep ourselves updated with what is happening. It is a very concerning time for us, and we are doing everything we can to act in the best interests of all our staff, and the best interests of Rusneftegaz. I am optimistic that once this has passed, we will be able to host the AGM as normal, it is one of the highlights of our calendar.” 

Pending further updates, our executive leadership is currently examining the prospects of holding this conference remotely within the next eight weeks, in addition to an in-person extraordinary general meeting later in the year. In the coming days, we will do our utmost to ensure that all parties affected by this will be duly informed of any further updates to our anticipated schedule, although all such affairs may change considering the wider circumstances. Although we have taken proactive measures to communicate with those of whom we expect to be involved in the discussions, we extend an invitation to anyone with further inquiries to promptly contact us via any of the usual means. We necessitate your cooperation and understanding at this challenging time.