Vostok Gas Explained

Vostok Gas
Type:Public
Foundation:1996
Location:Hamilton, Bermuda
Key People:Lukas Lundin (Chairman of the board), Per Brilioth (Managing director)
Industry:Investments
Assets:$4.984 billion (2007)[1]
Net Income: $950.6 million (2007)
Num Employees:8 (2007)
Homepage:www.vostokgas.com
Defunct:2012

Vostok Gas Ltd (named Vostok Nafta Investment Ltd prior to 24 May 2007) was an investment company mainly focused on oil and gas from the former Soviet Union. The company was founded in 1996 and had its headquarters in Bermuda. Almost all Vostok Gas's holdings were American depositary receipts (ADRs) in Russia's Gazprom, which made the company owner of approximately 1.5% of Gazprom. The company was listed on the Stockholm Stock Exchange and was a member of the OMX Stockholm 30 index between July 2006[2] and January 2009.

At a December 2008 extraordinary general meeting, shareholders approved the liquidation of the company as proposed by the company's board.[3] [4] The board had stated that the market volatility caused by the 2008 financial crisis had removed the attractiveness of a holding company for Gazprom ADRs. During liquidation, shareholders received Gazprom ADRs in exchange for their Swedish depositary receipts in Vostok Gas.[5]

External links

Notes and References

  1. Web site: Annual Report 2007 . 2008-04-15 . Vostok Gas .
  2. News: Boliden och Vostok Nafta på finlista. 2 June 2006. Helsingborgs Dagblad. sv. 2009-01-04. https://web.archive.org/web/20110927013929/http://hd.se/ekonomi/2006/06/02/boliden_och_vostok_nafta_finlista/. 27 September 2011. dead. dmy-all.
  3. Web site: Notice of Extraordinary General Meeting in Vostok Gas Ltd.. 9 December 2008. Vostok Gas. 2009-01-04. https://web.archive.org/web/20120219233514/http://www.vostokgas.se/web/vgas081209_egm_e.pdf. 19 February 2012. dead. dmy-all.
  4. Web site: Extra General Meeting in Vostok Gas Ltd.. 23 December 2008. Vostok Gas. 2009-01-04.
  5. News: Vostok to distribute Gazprom ADRs to investors. 9 December 2008. Reuters. 2009-01-04.