Mechel Announces Results of Its Annual General Shareholders' Meeting
06/30/2014 - Mechel OAO (NYSE:MTL), one of the leading Russian mining and metals companies, announces that its Annual General Shareholders' Meeting was held today.
The following key resolutions were adopted by shareholders at the meeting:
-- To pay no dividends on ordinary shares.
-- To pay a dividend of 0.05 rubles per one preferred share. The payment is
due to be made by bank transfer over the period specified by Russian law.
-- To make the list of persons entitled to receive dividends on preferred
shares on the date of July 11, 2014.
-- To allocate profit from past years as follows:
-- dividend payment of placed Company's preferred shares - 6,937,845.75 rubles (about $202,387.57*)
-- remaining profit of 90,416,010,077.27 rubles (about $2,637,573,222.79*) leave undistributed.
-- To elect the following people to Mechel's Board of Directors:
1. Arthur David Johnson;
2. Vladimir Gusev;
3. Igor Zyuzin;
4. Alexei Ivanushkin
5. Igor Kozhukhovsky;
6. Oleg Korzhov;
7. Vladimir Korovkin;
8. Yuri Malyshev;
9. Viktor Trigubko.
The number of the Board's members remained the same as last year.
Vladimir Korovkin and Oleg Korzhov joined the Board of Directors. Roger Ian Gale and Evgeny Mikhel left the Board.
-- To approve the Company's Annual Report for 2013.
-- To approve the Company's Annual Financial Statements inclusive of the
Income Statement (Profit and Loss Accounts) for 2013.
-- To elect the following people to Mechel OAO's audit committee:
1. Denis Shamne;
2. Natalya Zykova;
3. Andrey Stepanov.
-- To appoint Energy Consulting/Audit ZAO as the auditor of Mechel OAO.
-- To approve the revised Charter of Mechel OAO.
-- To approve the revised Bylaw on Mechel OAO's general shareholders' meeting.
* Based upon the Russian Central Bank exchange rate of 34.28 RUR/$ as of the date of the Board of Directors' recommendation to the General Shareholders' Meeting on making a decision on dividend payment (May 23, 2014).
-- To pay no dividends on ordinary shares.
-- To pay a dividend of 0.05 rubles per one preferred share. The payment is
due to be made by bank transfer over the period specified by Russian law.
-- To make the list of persons entitled to receive dividends on preferred
shares on the date of July 11, 2014.
-- To allocate profit from past years as follows:
-- dividend payment of placed Company's preferred shares - 6,937,845.75 rubles (about $202,387.57*)
-- remaining profit of 90,416,010,077.27 rubles (about $2,637,573,222.79*) leave undistributed.
-- To elect the following people to Mechel's Board of Directors:
1. Arthur David Johnson;
2. Vladimir Gusev;
3. Igor Zyuzin;
4. Alexei Ivanushkin
5. Igor Kozhukhovsky;
6. Oleg Korzhov;
7. Vladimir Korovkin;
8. Yuri Malyshev;
9. Viktor Trigubko.
The number of the Board's members remained the same as last year.
Vladimir Korovkin and Oleg Korzhov joined the Board of Directors. Roger Ian Gale and Evgeny Mikhel left the Board.
-- To approve the Company's Annual Report for 2013.
-- To approve the Company's Annual Financial Statements inclusive of the
Income Statement (Profit and Loss Accounts) for 2013.
-- To elect the following people to Mechel OAO's audit committee:
1. Denis Shamne;
2. Natalya Zykova;
3. Andrey Stepanov.
-- To appoint Energy Consulting/Audit ZAO as the auditor of Mechel OAO.
-- To approve the revised Charter of Mechel OAO.
-- To approve the revised Bylaw on Mechel OAO's general shareholders' meeting.
* Based upon the Russian Central Bank exchange rate of 34.28 RUR/$ as of the date of the Board of Directors' recommendation to the General Shareholders' Meeting on making a decision on dividend payment (May 23, 2014).
Mechel is an international mining and steel company which employs over 70,000 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.
