NLMK.L Regulatory News (NLMK)

9 Jan 2006 07:00

OJSC Novolipetsk Steel09 January 2006 9 January 2006 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN Exercise of Over-allotment Option Notice OJSC Novolipetsk Steel (the "Company") In connection with the global offering (the "Offer") of 420,000,000 ordinaryshares ("Ordinary Shares") in the Company in the form of Ordinary Shares andGlobal Depositary Shares ("GDSs") and in relation to the following GDSs: ISIN (144A): US67011E1055;ISIN (Regulation S): US67011E2046 UBS Limited as stabilisation manager (the "Stabilisation Manager"), herebyannounces that it has exercised the Over-allotment option over 2,730,750 GDSsgranted to it by Veft Enterprises Limited in connection with the Offer. TheOver-allotment Option exercised represents approximately 6.5 per cent of thenumber of Ordinary Shares sold under the Offer. None of the US$39.6 millionproceeds arising from the exercise of the Over-allotment Option will be receivedby the Company. The Offer Price of the GDSs was set at US$14.50 per GDS, with each GDSrepresenting 10 Ordinary Shares. The Offer Price was determined on 8 December2005. The stabilisation period commenced at 9.00 am on 9 December 2005 and ended on 8January 2006. This announcement is for information purposes only and is not for distribution,directly or indirectly, in or into the United States, Australia, Canada, SouthAfrica or Japan. This announcement does not constitute an offer of securitiesfor sale in the United States, nor may the securities be offered or sold in theUnited States absent registration or an exemption from registration as providedin the US Securities Act of 1933, and the rules and regulations thereunder. Nosecurities are being registered for offer or sale in the United States and nopublic offering of the securities in the United States will be made. The information contained herein does not constitute an invitation or offer tounderwrite, subscribe for or otherwise acquire or dispose of or the solicitationof an offer to buy nor shall there be any sale of the securities referred toherein in any jurisdiction in which such offer, solicitation or sale would beunlawful prior to registration, exemption of registration or qualification underthe securities laws of any such jurisdiction. UBS Limited is acting exclusively for the Company and Veft Enterprises Limitedin relation to the Offer and no one else and will not be responsible to anyoneother than the Company and Veft Enterprises Limited for providing theprotections afforded to clients of UBS Limited nor for providing any advice inrelation to the Offer, the contents of this announcement or any other matterreferred to herein. Stabilisation/ FSA This information is provided by RNS The company news service from the London Stock Exchange