16 Apr 2014 14:24
16.04.2014
Notice of AGM
NLMK (LSE: NLMK), a leading Russian steel company, today announces the results of the meeting of the Board of Directors. The Board took the decision to hold the Annual General Shareholders' Meeting on 6 June 2014, and approved the following AGM agenda:
1. Approval of the Company's 2013 annual report; annual financial statements, including income statement; allocation of profit and loss for the financial year 2013.
2. Election of members to the Company's Board of Directors.
3. Election of the President of the Company (Chairman of the Management Board).
4. Election of members to the Company's Internal Audit Commission.
5. Approval of the Company Auditor.
6. Approval of new revisions of NLMK's internal documents.
7. Approval of a related-party transaction.
8. Approval of compensation to members of the Board of Directors of NLMK.
The list of persons entitled to participate at the AGM will be prepared on the basis of the NLMK Shareholder Register as of 27 April 2014.
2013 dividend recommendation
NLMK Board of Directors recommended that the General Shareholders' Meeting approve dividends for 2013 on ordinary issued shares in the amount of RUB 0.67 in cash per one ordinary share. The Board of Directors also recommended to set the date on which shareholders entitled to the dividends will be determined: 17 June 2014.
The proposed level of dividends is in line with NLMK Group's Dividend Policy and does not hinder NLMK's efforts to achieve the targets of its Strategy 2017.
Dividend payout will amount to 35% of US GAAP consolidated net profit for 2013 adjusted for one-off non-monetary factors (creation of reserves), and for expenses related to previous periods.
Decisions on Group business activities
As part of the Group's business activities, NLMK Board of Directors recommended that the General Shareholders' Meeting approve a related-party transaction between Novolipetsk (the Buyer) and Stoilensky (the Supplier) for the purchase of iron ore concentrate and sinter ore.
Decision on Management Board members
The Board of Directors approved the composition of the NLMK Management Board, appointing 8 members.
The Board appointed the following Management Board members:
- Mr Oleg Bagrin, President (Chairman of the Management Board);
- Mr Alexander Burayev, Director, Long Products and Metalware;
- Mr Brijesh Garg, Vice President, Procurement;
- Mr Yuri Larin, Vice President, Technology Development & Operational Efficiency;
- Mr Alexander Saprykin, Vice President, Strategic Raw Materials Division;
- Mr Grigory Fedorishin, Vice President, Finance;
- Mr Sergey Filatov, Novolipetsk Managing Director;
- Mr Stanislav Tsyrlin, Vice President, HR & Management System.
About NLMK Group
NLMK Group is a vertically integrated steel company and Russia's leading steel maker and manufacturer of rolled products with high added value. NLMK's high-quality metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe, and the United States. The Company's liquid steel production capacity is over 17 million tonnes per year, of which about 16 million tonnes are produced in Russia. The Company generated US$ 10.9 billion in revenue, and EBITDA of US$ 1.5 billion in 2013.
NLMK's ordinary shares are traded on the Moscow Stock Exchange (MICEX-RTS, ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI).
Media contact info:
Sergey Babichenko
Tel. +7 (916) 824 6743
babichenko_sy@nlmk.com
Investor contact info:
Sergey Takhiev
Tel. +7 (495) 915 1575
tahiev_sa@nlmk.com