Samruk-Energy JSC. Annual Report / 2013

Information on shareholders

On 29 August 2012 by the Decree of the Government of the Republic of Kazakhstan №1103 shares of the Com-pany belonging to KazTransGaz JSC were handled to National Wealth Fund Samruk-Kazyna. So at the moment the sole shareholder of the Company is National Wealth Fund Samruk-Kazyna JSC.

Board of Directors

Board of Directors performs overall charge of the Company excluding settlement of issues related by the Law On joint stock ventures and by the Company’s Charter to exclusive jurisdiction of the General shareholder meeting and executive body.

Board of Directors of the Company consists of seven directors. Members of the Board of Directors are elected by the General shareholder meeting. 

The best practice of corporate mana-gement requires presence of directors independent from the shareholders and the company management who guarantee making objective decisions conforming at most to interests of the Company. 

In accordance with the Law of the Republic Kazakhstan On joint stock ventures the number of independent directors shall be not less than one third of the total number of members of the Board of Directors. Independence criteria are defined by the legislation, the Charter and the Provision on the Board of Directors of the Company.