Mechel Reports Decisions of Annual General Shareholder Meeting
June 30 2017 - 9:30AM
Mechel
PAO (NYSE:MTL) (MOEX:MTLR)
,
one of the leading Russian mining and metals companies,
reports the decisions made by the annual general
shareholder meeting held today.
The shareholders decided on the following:
- not to pay an annual dividend with respect to
ordinary shares;
- to pay an annual dividend of 10.28 rubles per
one preferred share (approximately 0.17 US dollars per one
preferred share and 0.09 US dollars per one preferred ADR*);
- to make the list of persons entitled to
receive dividends for 2016 based on the data in the Mechel PAO
Shareholders’ Register as of July 11, 2017;
- to make the payment by bank transfer within
the time period and according to form prescribed by Russian
law;
- to allocate 1,426,421,086.20 rubles
(approximately 24,139,805.15 US dollars*) for payment of dividends
for listed preferred shares, and leave the remainder of accumulated
profit from previous years (18,232,323,119.96 rubles, approximately
308,551,753.60 US dollars*) unallocated.
- to elect to the Board of Directors:
1. Igor V. Zyuzin2. Oleg V. Korzhov3. Georgy G.
Petrov4. Alexander N. Kotsky5. Alexander D. Orischin6. Viktor A.
Trigubko7. Alexander N. Shokhin8. Tigran G. Khachaturov9. Yury N.
Malyshev
*Based on the Russian Central Bank exchange rate
of 59.09 RUR/$ as of June 30, 2017.
Mechel is an international mining and steel
company. 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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