Two months ago, we launched a journalistic action called "Test Purchase": we purchased shares of Purneftegaz, LUKOIL, Rostelecom and Norilsk Nickel on the stock market, at Uniastrum Bank. Minority (that is, small) shareholders of Ivanov and Levin demanded reporting from these companies in strict accordance with the law. Now we can sum up the first results: only one of the listed companies responded to the request of its small shareholders - and recently we had to participate in the absentee voting of Purneftegaz shareholders. Unfortunately, the rest of the representatives of large Russian business, whose partners we have become, do not intend to notice us.
Purneftegaz was the first and so far the only one to respond to our letters. True, at first the company asked us to confirm our status as shareholders. At the same time, the local accountants calculated that sending the documents we requested would cost them a lot - about 500 rubles, and laid the costs on us. I had to send them a certificate from the bank about the purchase of shares and money to pay postage and other office expenses.
The result was unexpected: instead of the requested charter, we received an invitation to participate in the life of the company. It turns out that in the middle of summer, on July 15, the Purneftegaz board of directors convened an extraordinary general meeting of shareholders, which was held in the form of absentee voting. So we received two ballots - apparently, such things are sent to all Purneftegaz shareholders free of charge.
It is easier to vote in political elections. The oil company's message seemed like gibberish to us: "The first item on the agenda: the approval of a transaction in which there is an interest." And the only option of our answer was printed at the very bottom: “Approve a transaction in which there is an interest and the subject of which is property, the value of which is more than 50% of the book value of the assets of Rosneft Oil Company - Purneftegaz” - conclusion of the Surety Agreement between Rosneft-Purneftegaz and BNP Paribas, London branch, according to which the company agrees to ensure the fulfillment of the obligations of Rosneft Oil Company under the loan agreement concluded, among other things, between Rosneft Oil Company as borrower and BNP as lender on August 27, 2002, amended and amended in accordance with the draft, which was submitted for consideration by shareholders, for a total principal amount of up to US$265,000,000 at LIBOR plus 3.65% per annum for up to 4.5 years, in respect of repayment of the principal amount of the loan, interest accrued on it, as well as the commission due to the BNP.
We admit at once: from all of the above, we did not understand anything. That is why we abstain from voting. Of course, this is most likely our fault - there is no point in poking into the stock market with minimal economic knowledge. But, on the other hand, a doubt also crept in: intuition tells us that it is not without reason that the amount of 265 million dollars is floating away from the poor Russian Purneftegaz to the mysterious London BNP. We decided to consult with economists, and only then vote: in this way, our conscience of small shareholders will be calmer.
The text of the second bulletin, sent to us from Purneftegaz, pleased us with its brevity: "The Management Board is appointed by the Board of Directors, consisting of 7 people, in the manner prescribed by the Company's Charter." Who exactly these “7 people” and how each of them deserved the honorary title of the head of our company was not indicated in the letter. We abstained from voting on this "brave seven" because they reminded us of a collective pig in a poke. Dear leaders of Purneftegaz! If you want to receive our votes for each of the candidates for the position of a member of the Board of Directors, then please submit them by name. Announce the entire list, so to speak ...
In addition to the ballots, we were also sent a notice: if desired, the shareholders of Purneftegaz will be able to get acquainted with the draft agreements between Purneftegaz and the mysterious BNP London Branch, as well as with the draft amendments to the Regulations on Executive Bodies. But what we asked for - the company's statutory documents, the transcript of the last meeting of shareholders, the company's annual report, the data of the last scheduled audit and a copy of the decision of the shareholders' meeting on the amount and procedure for paying dividends to shareholders of OAO OC Rosneft - Purneftegaz, - we never received it. Most likely, this is the result of the forgetfulness of the oil postal service.
But we did not develop relations with LUKOIL. We also sent a letter to this company with a request to send us our statutory documents, as we became a few owners of their wells - for one share. In response, a rather impolite refusal came: “According to the information of the Registrar NIKoil, you are not a shareholder of OAO LUKOIL. <...> You can familiarize yourself with the materials that are freely available on the company's website.
Why LUKOIL decided that we are not shareholders remains a mystery. But, as it seems to us, such confusion is not only our problem. For our part, so that LUKOIL had no doubts, we sent a letter to the company with an extract from the bank "depo account" - in full compliance with the Law "On Joint Stock Companies". If this is not enough for the management of LUKOIL, then we will ask the court to find out who is right in this dispute between economic entities.
Norilsk Nickel and Rostelecom, whose owners we also became, are still playing silent. Letters were sent to them about a month ago. The answer is silence. Judging by the email notifications, the companies received requests. Maybe Nornickel and Rostelecom have no one to parse the letters? But this is a problem, sorry, not ours. We remind you, gentlemen: the law limits the time for your reflection. And this is the last warning before the corresponding statement to the court.
A month ago, when the stock market collapsed, we, minority shareholders of the largest Russian companies, lost 179 rubles on the difference in share prices. Quite a lot, considering that we had only eight shares: three of Purneftegaz, three of Rostelecom, and one each of Lukoil and Norilsk Nickel.
Now the stock market is slowly starting to recover. Quotes slowly crept up. True, this does not apply to Purneftegaz: in a month, from July 28 to August 28, its shares fell in price by two rubles. "LUKOIL" "grew up" by three rubles - from 589 to 592 rubles. Norilsk Nickel - by 14 rubles: from 1145 to 1159 rubles. Rostelecom shares went up by seven rubles, from 50 to 57. Thus, our profit for the month amounted to 22 rubles. True, I would like to receive dividends. Although exactly how much we are due and when, you can only find out from the statutory documents of "our" companies. And, unfortunately, we never received them ... Give back the money, gentlemen!