JSC Moscow oil refinery’s shareholders are going to participate in the shareholders' meeting

JSC Moscow oil refinery’s shareholders – JSC Gazprom Neft, Richard Enterprises S.A., Gregory Trading S.A., Fenix Assets Management Ltd which own 56% of the factory’s authorized capital are going to participate in the shareholders' meeting which will take place on 27th April, 2007.

Nevertheless, the conflict between Moscow oil refinery’s shareholders is not at the end. Results of shareholders’ meeting, decisions of the elected board of directors as well as all agreements and activities of the factory’s management appointed without an all shareholders’ agreement will be litigated.

The following facts show an unwillingness of the Moscow oil refinery’ management to resolve a conflict: shareholders were suspended from the company’s management, independent auditors were refused to have an access to the factory and to the information about company’s financial and economic activities.