Decisions adopted in OMV Petrom Ordinary General Meeting of Shareholders
In compliance with Law no. 297/2004 and Regulation no. 1/2006 of CNVM
Date of report: April 27, 2012
Name of issuer: S.C. OMV Petrom S.A.
Headquarters: Bucharest, 22 Coralilor Street, district 1
Telephone/fax number: +40 372 868930/ +40 372 868518
Sole registration number at the Trade Register Office: 1590082
Fiscal attribute: R
Trade Register Number: J 40/8302/1997
Share capital: 5,664,410,833.5 RON
Regulated market on which the issued shares are traded: Bucharest Stock Exchange
Significant event to be reported:
Resolutions of the Ordinary General Meeting of Shareholders dated April 27, 2012, (PDF, 521,4 KB)
- Dividends for 2011 to be distributed in total value of around RON 1.8 bn
- Investment budget for current year, around RON 5.2 bn
- New member in OMV Petrom Supervisory Board
OMV Petrom, the largest oil and gas producer in Southeastern Europe, announces a series of decisions taken within the Ordinary General Meeting of Shareholders (OGMS) on April 27, 2012.
Distribution of dividends
Further to the Executive Board’s proposal, OGMS approved the distribution of dividends to OMV Petrom S.A. shareholders registered with the shareholders registry at May 17, having a gross value of RON 0.031 per share. The total value of dividends that will be distributed starting with June 18, 2012 amounts to RON 1,756 mn. This is the highest value of dividends ever paid by the company and is 75% higher than the value paid for 2010.
Investments maintained at the same high level as previous years
OGMS approved the revenues and expenditures budget for the financial year 2012 of OMV Petrom S.A. prepared according to Romanian Accounting Standards. Therefore, the investments estimated by the company amount to around RON 5,218 mn, slightly above (6%) the investments level in 2011. Most of the investments, namely 76%, are destined for Exploration and Production activities, 15% of the budget is directed to Refining and Marketing activities while 4% will represent the investments in Gas and Power. OMV Petrom continues to be the largest investor in the Romanian energy sector.
New member in Petrom Supervisory Board
OGMS approved the appointment of Mr. Hans-Peter Floren, as new member of the Supervisory Board. Starting with 23 March 2012, Mr. Floren was appointed as interim member of the Supervisory Board until the OGMS due to waiver of their mandates by Mr Werner Auli and his interim successor Mr. Gerald Kappes.
Starting with March 1 2012, Mr. Floren has been a member of the Executive Board of OMV AG responsible for Gas and Power. In the past he has held various positions at E.ON Ruhrgas AG.
OMV Petrom is the largest oil and gas group in Southeastern Europe, with activities in the business segments of Exploration and Production, Gas and Power as well as Refining and Marketing . The Group consolidated its position on the oil market in Southeastern Europe following a far-reaching modernization and efficiency increase process whereas investments accounted for more than EUR 7.7 bn during the last seven years.
In Romania and Kazakhstan, the Group exploits proved oil and gas reserves of approximately 812 mn boe (in Romania 786 mn boe) and has a maximum annual refining capacity of 4.5 mn tons.
OMV Petrom is present in the distribution market for oil products in Romania, Republic of Moldova, Bulgaria and Serbia through a network of approximately 800 filling stations, operated under two brands, Petrom and OMV. In Romania, this activity is performed through OMV Petrom Marketing, 100% owned by OMV Petrom.
For its sustainable development, OMV Petrom has expanded the gas value chain into power. In this context, OMV Petrom is developing a 860 MW gas fired power plant project at Brazi and began commercial operations at the Dorobantu 45 MW wind park.
In 2011, the Petrom Group’s turnover was EUR 5,333 mn, EBIT was EUR 1,164 mn.
OMV, one of Austria’s largest listed industrial companies holds a 51.01% share in OMV Petrom. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. In Gas and Power, OMV sold approximately 24 bcm of gas in 2011. In Refining and Marketing, OMV has an annual refining capacity of 22.3 mn t and as of the end of 2011 approximately 4,500 filling stations in 13 countries including Turkey.
The Ministry of Economy, Trade and Business Environment holds 20.64% of OMV Petrom shares, the Property Fund SA holds 20.11%, the European Bank for Reconstruction and Development 2.03% and 6.21% is free float on the Bucharest Stock Exchange.