Urals Energy Public Company Limited, a Cyprus-based holding company admitted to trading on the London Stock Exchange’s Alternative Investment Market (AIM), is an independent oil company with its operating assets located in Russia. Urals Energy’s main exploration and production operations are both onshore and offshore, on Sakhalin Island and in Timan Pechora (Kolguev Island).
According to DeGolyer & MacNaughton (D&M), the Company's independent reserves auditors, as at 31 March 2007 the Company's present assets had 2P (proved and probable) reserves of 58.5 mmboe.
The Company operates its Russian holdings and directs the management of their operations through its Moscow subsidiary, OOO Urals Energy (a Russian limited liability company). In addition, the Company maintains its head office in Nicosia, Cyprus.
Leonid
Y. Dyachenko — Executive Chairman
Mr. Dyachenko is a successful entrepreneur and businessman who has a diverse range of interests including trucking and transportation, pharmaceuticals, and oil trading. He manages the Moscow office of Urals Energy LLC and is responsible for day-to-day administration and government relations for the Company’s Russian subsidiaries. Mr. Dyachenko began his career as a technological engineer with construction bureau SALUT. In 1992, he was seconded to Dresdner Bank, Frankfurt, where he completed a management training programme in corporate finance. Since then, he has participated in a number of new businesses, primarily related to commercial trading and export finance. He graduated from Moscow Aviation Technology Institute with a degree in Technological Engineering. Mr. Dyachenko is a Russian citizen and is 46 years old.
Alexei Maximov — Chief Executive
Alexei Maximov, 50, is one of the founding shareholders of the group that became Urals Energy. He holds a BA in Economics and a MBA and has a background in venture capital, direct investments and turnaround situations in both Russia and the USA. During the period 2001 to 2005 Mr Maximov was involved with certain M&A activities of the Urals Group. He has followed closely the development of Urals and has a keen understanding of the challenges which the Company now faces.
Grigory B Kazakov — Chief Financial Officer
Mr Kazakov, 35, was previously Urals’ Vice President of Finance and has been with the Company since 2005. He has an extensive experience in the financial and oil and gas sectors and has held senior positions in PwC’s audit and transactions practices in Moscow. Mr Kazakov graduated from Gubkin Oil & Gas University. As the Chief Financial Officer he is responsible for the Company’s financial management and reporting.
Aleksey
V Ogarev — Executive Director
Mr Ogarev, 52, is the former Deputy Chief of Administration to the President of the Russian Federation and has 20 years of experience in government with various agencies and has been involved in the energy industry since 2001. He is the current Vice President of Government Relations for the Company.
The Company is not subject to the requirements of any national corporate governance rules, including the Cypriot Code on Corporate Governance, as it is not listed in Cyprus.
The Directors are responsible for formulating, reviewing and approving the Company's and its subsidiaries’ strategy, budget, certain items of capital expenditure and senior personnel appointments. The Directors have established audit, remuneration, and nomination committees, as described below, and will utilize other committees as necessary in order to ensure effective governance.
The audit committee’s responsibilities include, among other things, reviewing the Company’s financial statements, accounting policies, internal controls and overseeing its relationship with its external auditors.
The remuneration committee’s responsibilities include, among other things, determining the Company’s policy on remuneration; however, no director or manager shall be directly involved in any decisions as to their own remuneration.
The nomination committee’s responsibilities include, among other things, reviewing the composition of the Company’s board and making recommendations to the board with regard to any changes.
If the Board of Directors includes any independent non-executive directors, then at least one member of each of the Board committees must be an independent non-executive director.
Urals Energy was established under the laws of Cyprus and incorporated under the Cyprus Companies Law (CAP113). As such, the rights of shareholders of the Company may be different from shareholders in a company incorporated under the laws of England and subject to the UK Companies Act.
The current Articles of Association of the Company (as revised, the “Articles”) were adopted by the Company on 18 July 2005, revised at an extraordinary general meeting of shareholders of the Company on 16 January 2006, and further revised at the annual general meeting of shareholders of the Company on 1 June 2006. The Articles incorporate by reference Part I of Table A in the First Schedule to the Cyprus Companies Law. To the extent of a conflict between the Articles and Table A, the terms of the Articles will prevail.
Click here to download The Company’s Articles
of Association (File size 3.72mb)
- Company Registration No:
142893
- Incorporation Date: 10th
November 2003
- Registered Address:
Evagorou Building,
Office 34, 3rd Floor,
31 Evagorou Avenue,
CY-1066, Nicosia,
Cyprus
- Directors:
Leonid Y Dyachenko
Alexey V Ogarev
- Company Secretary: Zet Secretarial
Limited
Authorized Share Capital
US $ 1,890,000 comprising 300,000,000 shares with a nominal value of US $ 0.0063
Issued Share Capital*
US $ 1,131,785.86 comprising 179,648,549 shares with a nominal value of US $ 0.0063
No shares are held as Treasury Shares
Restrictions
on Issued Shares
None
Shares
Not in Public Hands*
Total number of shares – 27,479,483
Percentage of the Company's issued share capital - 15.29%
* as at 1 November 2009
Significant
Shareholders
As Urals Energy is not a company subject to the UK Listing Authority's Disclosure and Transparency Rules and since Cyprus company law does not require similar disclosure, the Company is limited in the data it can provide to satisfy the requirements for disclosure of the interests of significant shareholders within AIM Rule 17. The information below is based on disclosures made directly to the Company, on estimates provided in a Thomson Reuters analysis and on information otherwise available to the Company. Non asterisked shareholdings have been sourced from Thomson Reuters.
Name |
Number of Shares |
% Issued Capital |
Finfund Limited |
22,738,034 |
12.66% |
V.V Rovneiko* |
15,384,963 |
8.56% |
L.Y.Dyachenko* |
6,791,295 |
3.81% |
G.N Ramzaitsev* |
6,670,000 |
3.71% |
Nafta B |
5,484,000 |
3.05% |
Management |
780,862 |
0.43% |
* as at 1 November 2009
Urals
Energy 2006 Annual Report
Click here to download a PDF file of the UEPCL
2006 Annual Report (File size 3.00mb)
2005 AIM Admission Document
Click here to download a PDF file of AIM Admission
Document (File size 4.58mb)
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Nominated Advisor
Allenby Capital Limited
Claridge House
32 Davies Street
Mayfair
London W1K 4ND
Company
Secretary
Zet Secretarial Limited
2nd Floor
5 Thermistocles
Dervis Street
Nicosia, Cyprus
Auditors
PricewaterhouseCoopers Cyprus
Julia House
3 Th Dervis Street,
Nicosia, Cyprus CY-1066
Lawyers
and Solicitors to the Company as to English law
Akin Gump Strauss Hauer & Feld
10 Bishops Square
8th Floor
London E1 6EG
Lawyers to the Company
as to Russian law
Akin Gump Strauss Hauer & Feld LLP
Ducat Place II
7 Gasheka Street
Moscow 123056 Russia
Lawyers
to the Company as to Cypriot law
Antis Triantafyllides & Sons
Triantafyllides Building
Capital Centre
9th floor
Nicosia, Cyprus
Competent
Persons (Independent Reserve Analysts)
DeGolyer and MacNaughton
One Energy Square
Suite 400 4925 Greenville Avenue
Dallas TX 75206
Transfer
Agent and Depositary
Computershare Investor Services PLC
PO Box 82
The Pavilions
Bridgwater Road
Bristol BS99 7NH
|
Financial Reporting
AIM Rule 26