PJSC Tatneft. Annual report 2017
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PJSC Tatneft. Annual report 2017

Information policy

The information policy of the Company is aimed to provide efficient information exchange between the Company and its shareholders, investors, and other stakeholders, building of long-term, open relations with them based on trust, and general assistance in the sustainable development of the Company and the improvement of its shareholder value.

The goal of the information policy is to disclose to stakeholders the information that they need to take informed
and reasonable decision regarding any actions that may affect the financial and economic situation of the
Company.

The Company aims to ensure high standards of corporate governance and adheres to a transparent information policy based on the following principles:

  • Regular and consistent disclosure of information regarding its main areas of activity.
  • Rapid disclosure of relevant information about significant events and facts pertaining to its operations.
  • Guaranteed accuracy and completeness of disclosed information about the Company and controlled entities
    that is important regarding the TATNEFT Group.
  • Availability of information to stakeholders and equal access to information for similar categories of stakeholders.
  • Integrity and accuracy of information disclosed through various means and/or in various forms, as well as
    comparability of figures disclosed at different times.
  • Provision of financial and other information free from influence of any persons or groups.

The Company discloses significant information about its operations and avoids taking a merely formal approach to the disclosure of information. The Company does not avoid to disclose negative information if this information is significant for shareholders, investors, or other stakeholders. The Company tries to ensure the simultaneous and equal disclosure of significant information in the Russian Federation and abroad in accordance with the circulation of the Company’s securities on foreign regulated securities markets, including in the form of foreign depository receipts. Equivalence of disclosure means that in case the information is disclosed on one regulated market in one country, similar information shall also be disclosed in other countries in whose organized markets securities of the Company circulate.

Disclosure, dissemination, and provision of information shall be in the amount, according to the procedure, and within the time limits specified in applicable Russian and foreign legislation regarding information disclosure by issuers of securities.

Information that must be disclosed under legislation of the Russian Federation shall be disclosed on the official website of the Company at TATNEFT.ru in Russian and in English, and shall also be placed in the news feed and on the website of the information agency authorized to disclose information of the Company, and using other means in accordance with applicable legislation of the Russian Federation.

Information that is subject to mandatory disclosure due to circulation of the Company’s securities outside the Russian Federation shall be disclosed via an authorized information agency outside of the Russian Federation. In case any information disclosure is made outside of the Russian Federation, the Company shall also disclose this information in the Russian Federation, amount, procedures, forms and time limits of such disclosure shall be set by the Russian regulator of the securities market, including disclosure on the official website of the Company at TATNEFT.ru.

DISCLOSURE OF STATEMENTS

TATNEFT discloses annual consolidated financial statements along with auditor report and brief consolidated interim financial statements together with reports on reviews of brief consolidated interim financial statements. Annual accounting statements along with auditor report and interim accounting statements are also published.

Transparency of financial statements is one of the key elements of corporate governance. On March 28,2018, the Company published audited annual RAS accounting statements for 2017, and on March 29, 2018, audited consolidated annual IFRS financial statements for 2017.

The annual report of the Company reflects the most important information about the performance of the TATNEFT Group by area of operations and information about corporate governance and corporate responsibility. The report is drawn up on the basis of data from consolidated IFRS financial statements of the Group in accordance with the requirements of applicable legislation regarding financial markets and subject to provisions of the Corporate Governance Code recommended by the Bank of Russia.

INFORMATION TO BE DISCLOSED

  • The Charter and internal documents regulating management of the Company.
  • Lists of affiliated entities.
  • Emission documents, including issue prospectus.
  • Annual report.
  • RAS accounting statements (annual and intermediate).
  • Consolidated IFRS financial statements (annual, interim).
  • Quarterly reports of the securities issuer.
  • Notifications, including in the form of significant facts, of disclosure of insider information.
  • List of major transactions and interested-party transactions made in the reporting year.
  • Press releases regarding resolutions of management bodies.
  • Press releases, news of the Company.
  • Reports on payments to states, etc.
Regulation on the information policy of TATNEFT (new revision) approved by resolution of the Board of Directors of TATNEFT (Minutes No. 12, resolution No. 3 dated April 27, 2017)

As part of interaction with institutional investors, shareholders, and other stakeholders, in 2017, TATNEFT held regular presentations of its IFRS financial results. In addition, the Company continuously improves the transparency of its operations through regular meetings of the management with analysts of major investment banks, representatives of international investment funds, and recognized rating agencies. The management of the company during presentations at key events, especially annual general shareholders' meetings, regularly highlights the importance of close interaction with investors and shareholders and the protection of their interests.