EANS-Public Payment
OMV Aktiengesellschaft / Report on payment to government agencies according to art. 128 Stock Exchange Act
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Public Payment transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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Public Payment transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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Consolidated Report on the Payments Made to Governments
Section 267c of the Austrian Commercial Code
Section 267c of the Austrian Commercial Code (UGB) requires that large
undertakings and public interest entities that are active in the extractive
industry or logging of primary forests prepare the following consolidated report
on payments to governments. This section implements Chapter 10 of EU Accounting
Directive (2013/34/EU). The "Basis of preparation" paragraph provides
information to the reader about the contents of the report. This also includes
information on the type of payment for which disclosure is required and how OMV
has implemented the regulations in the preparation of the report.
Basis of preparation
Reporting entities
Under the requirements of the regulation, OMV Aktiengesellschaft is required to
prepare a consolidated report covering payments made to governments for each
financial year in relation to extractive activities by itself and any subsidiary
undertakings included in the consolidated Group financial statements.
Activities within the scope of the report
Payments made by the OMV Group (hereafter OMV)to governments that arose from
exploration, prospection, discovery, development and extraction of minerals,
oils and natural gas deposits or other materials within extractive activities
are presented in this report.
Government
A "government" is defined as any national, regional or local authority of a
country and includes a department agency or entity undertaking that is
controlled by the government authority and includes national oil companies.
In cases where a state-owned entity engages in activities outside of its
designated home jurisdiction,then it is not deemed to be a reportable
governmental body for these purposes and thus payments made to such an entity in
these circumstances are not reportable.
Project definition
The regulation also requires payments to be reported on a "project" basis as
well as on a government and governmental body basis. A project is defined as the
operational activities that are governed by a single contract, license, lease,
concession or similar legal agreement and form the basis for payment liabilities
to the government. Where these agreements as per the aforementioned definition
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