Mechel Announces Results of Annual General Meeting of Shareholders
June 30 2016 - 10:45AM
Mechel PAO (NYSE:MTL) (MOEX:MTLR),
one of
the leading Russian mining and metals companies, announces the
decisions of its Annual General Shareholders’ Meeting held
today.
The following resolutions were adopted by shareholders at the
meeting:
- To pay no dividends on ordinary shares and to pay a dividend of
0.05 rubles per one preferred share.
- To make the list of persons entitled to receive dividends on
preferred shares on the date of July 11, 2016. The payment is due
to be made by bank transfer over the period specified by Russian
law.
- To allocate 6,937,845.75 rubles to make dividend payments on
the company’s preferred shares and leave undistributed the retained
earnings of past periods, totaling 31,904,551,427.37 rubles.
- To elect the following people to Mechel’s Board of Directors1.
Igor Zyuzin;2. Alexander Shokhin.3. Oleg Korzhov;4. Alexander
Kotsky;5. Yuri Malyshev;6. Vladimir Korovkin;7. Alexander
Orischin;8. Viktor Trigubko;9. Tigran Khachaturov;
The number of the members of the company’s Board of Directors
remained unchanged since 2015.
- To elect the following people to Mechel PAO’s audit
committee:1. Alexander Kapralov;2. Natalya Zykova;3. Irina
Bolkhovskikh.
- To approve the new version of the company’s bylaw on
recompenses on bonuses paid to Mechel PAO’s Board members and
compensation of expenses linked to their duties as members of the
Board of Directors.
- To appoint Energy Consulting/Audit ZAO as the auditor of Mechel
PAO.
Mechel is an international mining and steel company
which employs 66,000 people. Its products are marketed in Europe,
Asia, North and South America, Africa. Mechel unites producers of
coal, iron ore concentrate, steel, rolled products, ferroalloys,
heat and electric power. All of its enterprises work in a single
production chain, from raw materials to high value-added
products.
Some of the information in this press release may
contain projections or other forward-looking statements regarding
future events or the future financial performance of Mechel, as
defined in the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. We wish to caution you
that these statements are only predictions and that actual events
or results may differ materially. We do not intend to update these
statements. We refer you to the documents Mechel files from time to
time with the U.S. Securities and Exchange Commission, including
our Form 20-F. These documents contain and identify important
factors, including those contained in the section captioned “Risk
Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in our Form 20-F, that could cause the actual results to differ
materially from those contained in our projections or
forward-looking statements, including, among others, the
achievement of anticipated levels of profitability, growth, cost
and synergy of our recent acquisitions, the impact of competitive
pricing, the ability to obtain necessary regulatory approvals and
licenses, the impact of developments in the Russian economic,
political and legal environment, volatility in stock markets or in
the price of our shares or ADRs, financial risk management and the
impact of general business and global economic conditions.
Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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