Mechel Announces Results of Annual General Meeting of Shareholders
MOSCOW, June 30, 2016 (GLOBE NEWSWIRE) -- 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 Directors
1. 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