Annual General Meeting in Vostok Nafta Investment Ltd

Vostok Nafta Investment Ltd 

09.05.2012 18:22
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Stockholm, 2012-05-09 18:22 CEST (GLOBE NEWSWIRE) -- 
An Annual General Meeting in Vostok Nafta Investment Ltd (the 'Company') was
held on Wednesday, May 9, 2012 at 3:00 pm in Kreugersalen at
Tändstickspalatset, Västra Trädgårdsgatan 15 in Stockholm, Sweden. 

At the meeting, the shareholders considered a number of items, some of which
were the following. 

  -- The profit and loss account and the balance sheet as well as the
     consolidated profit and loss account and the consolidated balance sheet
     were adopted, showing total loss for the financial year January 1-December
     31, 2011, in the amount of USD 124.10 mln. The directors' proposal that no
     dividends be paid was approved.
  -- All directors were re-elected, namely Al Breach, Per Brilioth, Lars O
     Grönstedt, C. Ashley Heppenstall, Paul Leander-Engström, Lukas H. Lundin,
     William A. Rand and Robert J. Sali. Lukas H. Lundin was appointed Chairman
     of the Board. Furthermore it was resolved that remuneration for the Board
     shall be SEK 250,000 for the chairman of the Board and SEK 150,000 to each
     of the other Directors who are not employed by the Company. Remuneration
     for work within the Audit Committee shall be a total of SEK 195,000, for
     work within the Compensation Committee the remuneration shall be a total of
     SEK 70,000 and for work within the Investment Committee the remuneration
     shall be a total of SEK 75,000. Remuneration for work within the Board's
     committees shall only be paid to Directors who are not employed by the
     Company.
  -- In addition to the remuneration for the Board, a maximum amount of USD
     300,000 shall be allocated to the Board for remuneration of Namdo
     Management for management and investor relations services rendered. Namdo
     Management is a company controlled by the Chairman of the Board Lukas H.
     Lundin.
  -- PricewaterhouseCoopers AB were re-elected as the Company's auditors.




         For further information please contact:
         Robert Eriksson, Head of Investor Relations, Tel +46 701 11 26 15
News Source: NASDAQ OMX



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Language:     English
Company:      Vostok Nafta Investment Ltd
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0002056721
WKN:          
 
End of Announcement                             DGAP News-Service
 
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