LUKOIL to Enter Russian National Association SWIFT
OREANDA-NEWS. The Board of Directors of OJSC “LUKOIL” resolved to add to the agenda of the Annual General Shareholders Meeting an item on amending the Charter of OAO LUKOIL with a provision on authorised shares of OAO "LUKOIL" in the amount of 85 million ordinary registered shares, with a par value of 2.5 kopecks each.
This provision will allow the Board of Directors to quickly adopt resolutions on placement of an additional share issue in case of necessity.
The Board of Directors also proposed to add to the agenda of the Annual General Shareholders Meeting an item on approving membership of OAO LUKOIL in the Russian National Association SWIFT which will allow to maintaine the centralized treasury functions at the level of the up-to-date technologies, efficiently integrate the acquired assets in the LUKOIL Group.
At present, the Company already uses the SWIFT system to bring solution of a number of treasury tasks to an automated level.