OREANDA-NEWS. PJSC Novorossiysk Commercial Sea Port (PJSC NCSP) (LSE: NCSP, Moscow Exchange: NMTP) hereby announces the resolutions approved of the Board of Directors PJSC NCSP in a meeting held at the city of Novorossiysk.

PJSC NCSP’s Board of Director has approved the following resolutions as per agenda of the meeting:

To elect Maksim Grishanin, First Vice-President of Transneft JSC, as Chairman of the Board of PJSC NCSP.

To suspend the powers of Rado Antolovic, General Director (CEO) of PJSC NCSP.

To appoint Yuriy Matvienko, previously Executive Director of PJSC NCSP, as Acting General Director (Acting CEO of PJSC NCSP.

To approve Igor Terentyev as Executive Director of PJSC NCSP.

To hold and extraordinary General meeting of shareholders (EGM) in the form of joint presence on 18 June 2013 at 12:00 am at Port Worker's Club, 16 Portovaya Street, Novorossiysk, Russia.

To determine the record date for registering shareholders eligible to vote at EGM as 29 March 2013.

To approve the following agenda of the EGM:

- Early termination of powers of General Director (CEO) of PJSC NSCP.

- Election of the new General Director (CEO) of PJSC NCSP.

- Early termination of powers of PJSC NSCP’s Board of Directors.

- Election of the Board of Directors of PJSC NSCP.

To determine the composition of PJSC NCSP’s Executive Board in the amount of five members and to elect the following members of the Executive Board:

- Yuriy Matvienko, Acting General Director;

- Marat Shaydaev, First Deputy General Director;

- Igor Terentyev, Executive Director;

- Denis Afanasof, Deputy General Director for Legal and Corporate;

- German Kachan, Deputy General Director for Economics and Finance.

The Board has also considered matters related to reconstruction and modernization of hydraulic engineering installations and technological equipment of Sheskharis oil terminal.