OREANDA-NEWS. May 23, 2014. Rosneft successfully completed the procedure to buy back minority shareholders’ shares of RN Holding upon request to RN Holding according to Article 84.8 of Federal Act ‘On Joint-Stock Companies’.

Following the results of buy-back, Rosneft and its affiliated company Novy Investments Limited became the owner of 100% of nominal ordinary uncertificated stocks and preference nominal registered stocks of RN Holding.

All calculations for payment for the shares were completed before stock transfer in behalf of Rosneft via funds transfer directly to stockholders and nominee shareholders, or through contribution to notarial deposit.

In order to provide favorable conditions for RN Holding shareholders, the Company created a network of offices for receipt of applications in more than 70 cities of Russia, where each shareholder could submit applications under the share buy-back program upon the demand of Rosneft, and get competent advice on the matter. The Company offered a special program for veterans of oil industry aimed at exchange of RN Holding shares to Rosneft shares. 300 minority shareholders of RN Holding made use of this offer.