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YUKOS declines to vote at Sibneft shareholders meeting

Russia

YUKOS declined to vote at today`s extraordinary meeting of Sibneft shareholders. Sibneft shareholders were to express their opinion on three amendments to Sibneft`s articles of association. YUKOS believes that the voting procedure made it impossible to express one's opinion on each of the proposed amendments. YUKOS representative Alexey Kuritsin notified Sibneft chairman Konstantin Potapov of this decision in a letter.

According to Kuritsin, the proposed amendments contradict the interests of Sibneft shareholders.

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