Minor Shareholders To Control 5-10% Shares In TNK After Swap Deal

Minor shareholders will control 5-10% of the shares in Tyumen Oil Company (TNK) following the transition to a single share type in accordance with a new plan, TNK Vice President Iosif Bakaleinik said at a news conference in Moscow today. In accordance with an earlier plan for transition to a single share type, the maximum share of minor shareholders could reach 8%. Nonetheless, according to Bakaleinik, the total number of minor shareholders is no principally important to the major shareholders. He pointed out that the main shareholders in TNK would like to see it as an absolutely private company, and they have no plans to offer its shares on the stock market so far. At the same time, TNK does not plan to reduce the share of minor shareholders either.

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