Slavneft To Introduce Single Shares

The Board of Directors of the Slavneft oil company made a decision on April 19 to conduct an annual general meeting of shareholders of the company on June 29, 2001. In addition, the Board decided to establish a working group which will elaborate on ways of introducing single shares.

Among members of the group will be specialists of Slavneft, the Property Ministry, the Federal Property Fund, the State Property Ministry of Belarus, the Anti-Monopoly Ministry of Russia and other departments. In addition, market prices of Slavneft shares are to be evaluated over the next three months as they will be replaced by single shares.