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Resolutions passed during the Ordinary General Meetings of Shareholders (OGMS) and the Extraordinary General Meeting of Shareholders (EGMS) of OMV Petrom

  • Distribution of record high dividends in amount of more than 2.3 billion lei for the financial year 2022
  • Investments of 6 billion lei in 2023, with potential increase of more than 1 billion lei   
  • Delisting from the London Stock Exchange of the global depositary receipts (GDRs) issued by Citibank N.A.  

OMV Petrom announces the resolutions passed during the General Meetings of Shareholders, which took place on the 26th April 2023.

Christina Verchere, CEO OMV Petrom: “2022 was unprecedented in terms of market conditions and results. We will therefore increase investments in Romania by almost 70% to 6 billion lei and distribute record high dividends in amount of more than 2.3 billion lei.”

The Ordinary General Meeting of Shareholders approved the Executive Board’s proposal of distributing base dividends of gross value of 0.0375 lei/share for the financial year 2022, representing an annual increase of 10%. The total gross number of dividends to be distributed is more than 2.3 billion lei, of the net income for the year 2022.

Dividends will be distributed to shareholders registered at record date. Almost 1 billion lei will be distributed to Romanian shareholders, who were holding, on December 31, 2022, over 40% of the company shares. Out of this amount, more than 480 million lei will be distributed to the Romanian state, which holds 20.7% of OMV Petrom S.A. shares, through the Ministry of Energy.

The OGMS approved an investment budget for the year 2023 of approximately 7 billion lei which includes investments planned of 6 billion lei and 1 billion lei contingencies approved to cover the possibility of accelerating some of our strategic projects and other investment opportunities.

The appointment of three members in the Supervisory Board was approved during the OGMS, namely Reinhard Florey, Katja Tautscher and Berislav Gaso, previously interim Supervisory Board members, who are joining the current members: Alfred Stern, Martijn van Koten, Niculae Havrileț, Răzvan-Eugen Nicolescu, Marius Ștefan and Jochen Weise.

Also, the appointment of KPMG Audit SRL as new financial auditor for the audit of 2023 financial statements was approved during the OGMS.

During the EGMS, it was approved the delisting from the London Stock Exchange of the global depositary receipts (GDRs) issued by Citibank N.A., taking into account the low GDRs current account in total Company’s share capital, the low trading volumes and the related costs. OMV Petrom will continue to have its shares traded on the Bucharest Stock Exchange in Romania. OMV Petrom has always supported the Romanian capital market and continuing to have its shares traded on the Bucharest Stock Exchange only is another evidence in this respect.

About OMV Petrom  

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in 2022. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom.

OMV Petrom is a company in which Romanian shareholders hold over 40% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 21.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 6.4% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with approximately 39 billion euro in taxes and dividends paid between 2005 and 2022. During the same period, the company invested approximately 17 billion euro. In 2022, the taxes paid by OMV Petrom ensured 7% of Romania's tax revenues.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2022, the company has allocated around 120 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change. OMV Petrom annually reports on the progress made in implementing these recommendations.