14 Jun 2016 07:36
MMC Norilsk Nickel / AGM StatementMMC Norilsk Nickel: NORILSK NICKEL SHAREHOLDERS ELECTED NEW BOARD OFDIRECTORS 14-Jun-2016 / 08:36 CET/CESTDissemination of a Regulatory Announcement, transmitted by EquityStory.RS,LLC - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- NORILSK NICKEL SHAREHOLDERS ELECTED NEW BOARD OF DIRECTORS Moscow, June 14, 2016 - The Annual General Meeting of shareholders (AGM) ofMMC Norilsk Nickel took place on Friday. During the AGM a new Board ofDirectors was elected and the dividend for 2015 in the amount of RUB 230.14per ordinary share was approved. Previously, the Extraordinary GeneralMeetings of shareholders held on September 14, 2015 and December 19, 2015approved the payment of dividend for the first half of fiscal year 2015 inthe amount of RUB 305.07 per ordinary share and RUB 321.95 for the ninemonths of fiscal year 2015 respectively. The total dividend for 2015 amounts to RUB 857.16 per ordinary share, whichfully meets the targets set out in Norilsk Nickel's strategy. The Board of Directors was elected as follows: - Gareth Penny (Chairman of the Board of Directors, PJSC MMC Norilsk Nickel; Executive Chairman of New World Resources plc); - Andrei Bougrov (Senior Vice President; Deputy Chairman of the Board of Directors of MMC Norilsk Nickel); - Rushan Bogaudinov (Area Manager, CJSC Rusal Global Management B.V.); - Sergey Barbashev (CEO, Chairman of the Board of CJSC INTERROS HC); - Alexey Bashkirov (Deputy CEO for Investments of CJSC INTERROS Holding Company); - Sergey Bratukhin (President of CIS Investment Advisers); - Marianna Zakharova (First Vice President, General Counsel, PJSC MMC Norilsk Nickel); - Stalbek Mishakov (Adviser to CEO, CJSC RUSAL Global Management B.V.); - Gerhard Prinsloo (Director of Natural Resources Partnership); - Maxim Sokov (CEO of En+ management, CEO of En+ Group Limited); - Vladislav Soloviev (CEO of CJSC RUSAL Global Management B.V.); - Robert Edwards (Independent Non-executive Director of GB Minerals Ltd.). The shareholders approved the annual report, financial statements and theconsolidated financial statements for 2015 in accordance with IFRS. In addition, the shareholders' meeting elected members of the internalaudit commission and approved the Company's auditors for 2016: JSC KPMG forRAS accounts and CJSC KPMG and IFRS consolidated financial statements. The shareholders voted in favor of all the remaining issues of the agenda. 'The year 2015 was marked by a sharp drop in commodity prices, but thanksto the efforts of made in the last three years Norilsk Nickle demonstratesa high profitability with low debt and an attractive dividend yield. As to the progress in our investment program, we've managed to deliver eachproject on schedule and on budget. Major investments last year centered onmining projects required to replenish the retired capacities and grow oreoutput at Talnakh area deposits as well as the Bystrinsky Project, which isto go operational next year in the fourth quarter. The Company is consistently delivering on its commitments to reconfigurethe metallurgical capacities. As such we've brought on stream the TalnakhConcetrator, finished the reconstruction of Nadezhda Metallurgical Plantand are revamping the refining at Kola MMC. The environmentally-mindedprogram of shutting down the Nickel Plant is kept tight on schedule. TheSulfur Project, which will drastically reduce overall emissions sulfurdioxide in Norilsk industrial area is in the active phase of prep forconstruction. Now we are entering the next three-year stretch. As before we are adamantto retain the best dividend yield industry-wide without conceding ourfinancial position against the background of nosediving commodity markets.The new variable dividend targets, effective as of 2016, will depend ondebt ratio and be proportionate to EBITDA. The management team is positivethat the flexibility in the amount of dividend payouts will suffice tosupport a balanced financial model, deliver on the investment projects andbear the Company's social responsibility', - said Vladimir Potanin,President and Chairman of the Management Board of MMC Norilsk Nickel. Following the end of the AGM the Board of Directors held a meeting toappoint the Chairman of the Board and the heads of key committees. GarethPenny was reappointed as the Chairman of the Board, Andrei Bougrov waselected the Deputy Chairman of the Board. The Audit Committee is headed byGerhard Prinsloo, the Strategy Committee by Maxim Sokov, the CorporateGovernance, Nomination and Remuneration Committee by Sergey Bratukhin, andthe Budget Committee by Alexey Bashkirov. For further information, please, contact: Media Relations: Investor Relations: Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20 Email: pr@nornik.ru Email: ir@nornik.ru ABOUT NORILSK NICKEL: Public Joint-Stock Company Mining and Metallurgical Company Norilsk Nickelis a diversified mining and metallurgical company, the world's largestproducer of nickel and palladium and a leading producer of platinum,cobalt, copper and rhodium. In addition, the Company produces gold, silver,iridium, selenium, ruthenium and tellurium. The production units of Norilsk Nickel are located in Russia at the NorilskIndustrial District and on the Kola Peninsula, as well as in Finland. Norilsk Nickel's shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges. Norilsk Nickel ADRs trade over the counter inthe US and on the London and Berlin Stock Exchanges. --------------------------------------------------------------------------- 14-Jun-2016 The EquityStory.RS, LLC Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.Archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: MMC Norilsk Nickel 1 st Krasnogvardeysky av., 15 123100 Moscow Russia Internet: www.nornik.ru ISIN: US55315J1025 WKN: A140M9 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart; Open Market in Frankfurt ; London, Nasdaq Category Code: AGM TIDM: MNOD Sequence Number: 3207 Time of Receipt: 14-Jun-2016 / 08:36 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 471275 14-Jun-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.