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TNK-BP Board Meeting Off

The TNK-BP board of directors meeting scheduled for Feb. 24 has been canceled due to the absence of quorum and cannot be held until two new independent directors are appointed, Interfax reported Monday.

For quorum to be achieved, the board of directors must have 11 participants, including three independent directors. TNK-BP's board of directors currently only has one independent director, Alexander Shokhin, who was nominated by the Alfa-Access-Renova consortium.

A search for candidates to be new independent directors, to be conducted by the Egon Zehnder agency, is expected to commence this month.

(MT)

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