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M&A: RITEK shareholders to consider takeover of Mushakneft May 7

At their extraordinary meeting on May, the shareholders of JSC RITEK will consider the company's restructuring through the takeover of CJSC Mushakneft, RITEK informed.

The record date is April 7.
It will be recalled that on January 9, RITEK acquired 100% of the authorized capital of Mushakneft (the Udmurt Republic) licensed to develop the Mushakskoye oil field.

JSC Russian innovation fuel and energy company (RITEK, tax number: 7736036626) is developing deposits in Yamal-Nenets autonomous area and the Republic of Tatarstan.

The company's authorized capital is RUB 101.508 million represented by 144,762,000 common and 250,000 preferred shares at par value of RUB 0.7. LUKOIL group is the company's principal shareholder.

According to the DataCapital information retrieval system, RAS net profit of RITEK for 2013 grew by 0.5% to RUB 21.75 billion from RUB 21.74 billion the year before. Revenue increased by 1.9% to RUB 98.31 billion from RUB 96.435 billion.

"AK&M", 31.03.2014


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