OREANDA-NEWS. May 06, 2011. PJSC Novorossiysk Commercial Sea Port (LSE: NCSP, RTS & MICEX: NMTP) hereby announces alterations in the company’s Charter made in line with the Resolution #1343-p of the Russian Government dated 12.08.2010. These changes reflect additional rights of the RF Government in accordance with the “golden share” concept envisaged by the above Resolution #1343-p.

In particular new changes provide for:

       The right of the RF Government to appoint additional Director to the Board of the Company with the veto power with respect to the following matters:

·       Changes and amendments to the Charter of the Companyand/or approval of a new Charter

·       Reorganization of NCSP

·       Liquidation of NCSP, appointment of liquidation commission and approval of interim and final liquidation balances

·       Change in Charter Capital

·       Major and interested party transactions (according to Chapter X and XI of the Federal law on Joint Stock Companies

       The right of the RF Government to appoint one member of the Control (Revision) Commission of the Company

At the next AGM appointed for 30.06.2011 the shareholders will be able to elect only 6 Directors, and four members of the Control (Revision) Commission. One Director and one member of the Control (Revision) Commission are expected to be appointed by the Government directly.