Stake in Slavneft Oil Company to be sold

In 2003, the Russian government plans to sell a stake in the Slavneft oilcompany amounting to 5.27 percent minus one share. This data is containedin the forecast program of privatization of the federal property in 2003signed by Russian Prime Minister Mikhail Kasyanov. Decisions on theconditions of selling the government's stakes in large public companies,including Slavneft, will be made by the government according to theestablished procedure.This fall, the government is going to sell a 19.68-percent stake inSlavneft. After selling the mentioned stakes, the government will still bea proprietor of 50 percent plus one share in the company. Slavneft's sharecapital amounts to RUR4,754,283 and is divided into 4,754,238,000 commonshares with RUR0.001 in par value.The company has 140,097,000 authorized shares with RUR0.001 in par value.Slavneft shareholders are the Russian Property Ministry (55.27 percent),the Russian Foundation for Basic Research (19.68 percent), the DepositaryClearing Company (12.98 percent) and the Ministry of State Property ofBelarus (10.83 percent)..

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