Novorossiysk Commercial Sea Port Board has recommended the Annual General Meeting of shareholders not to distribute the profits for 2017 in the amount of 30,469,767,235 rubles 52 kopecks, due to the dividends payment restrictions associated with judicial prohibitions on the profits distribution and payment of dividends in respect of the PJSC NCSP Group, according to the company’s documents.
The Board decided to recommend the Annual General Meeting of shareholders not to declare dividends on the NCSP Group’s ordinary shares for 2017, due to restrictions on payment of dividends related to judicial prohibitions on profits distribution and payment of dividends.