Transneft to hold tender to choose auditor for 2003

The board of directors of the Russian oil transportation company Transneft has decided to hold an open tender to choose an auditor to carry out an obligatory audit of the company's balance sheet in 2003, the Transneft press service reported to RBC. At today's meeting, the board of directors also approved the agenda for a general annual meeting of shareholders, however, the date of the general meeting has not been set yet. The general meeting will approve the company's annual financial statements and the annual balance sheet, including the profit-and-loss report. Other issues to be considered by Transneft shareholders include profit distribution, dividend payments and the company's losses in the previous fiscal year.

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