5 Jun 2015 13:44
Press release
5th June 2015
Results of 2015 Annual General Meeting: NLMK Group increases number of independent board directors to four
NLMK (LSE: NLMK) held its Annual General Meeting on June 5th in Lipetsk. Shareholders voted to elect a new Board of Directors, increasing the number of independent directors from three to four; and to confirm Oleg Bagrin as the Group's Chief Executive Officer.
Shareholders approved the payment of dividends for FY2014 in the amount of 2.44 rubles per ordinary share. With consideration of the interim dividends paid for H1 2014 in the amount of 0.88 rubles per ordinary share, the amount outstanding for payment is 1.56 rubles per ordinary share. Shareholder also approved the payment of dividends for Q1 2015 in the amount of 1.64 rubles per ordinary share. The date upon which the shareholders entitled to receive dividends for FY2014 and Q1 2015 will be determined was set as June 16th 2015.
Company shareholders also approved the Company's 2014 annual report and annual financial accounts and income statements ('financial results report').
Nine members of the Board of Directors were elected, including four independent directors: Vladimir Lisin, Oleg Bagrin, Nikolai Gagarin, Karl Doering, Helmut Wieser (independent director), Karen Sarkisov, Stanislav Shekshnya (independent director), Benedict Sciortino (independent director) and Franz Struzl (independent director).
Due to the fact that on April 24th 2015 NLMK's Board of Directors approved a new Dividend Policy (for details, please refer to http://nlmk.com/press-release?pid=1179), it was decided that the previous iteration of NLMK's Dividend Policy, as approved by NLMK's Annual General Shareholder Meeting on June 6th 2014, was invalidated.
Shareholders approved the payment of remuneration to members of NLMK's Board of Directors; and approved an updated version of the Regulations on Board of Director Member Remuneration; as well as the amount of base remuneration for each member of NLMK's Board of Directors.
New member of the Board of Directors Stanislav Shekshnia's biography:
Stanislav Shekshnia has a Master's Degree in Economics, a Ph.D. from Moscow State University, and an MBA from Northeastern University in Boston. From 1991-2002, Dr. Shekshnia held the positions of Director of Human Resources for Otis Elevator in Central and Eastern Europe, President and CEO of Millicom International Cellular in Russia and CIS, Chief Operating Officer of VimpelCom, and CEO of Alfa-Telecom. He has served as Chairman of SUEK, Vimpelcom-R and as Director of a number of Russian and Ukrainian companies. Stanislav was an independent director at DTEK BV, Ilim Timber Industry and Ener1. Currently Dr. Shekshnia is an independent director at Dentsu Aegis Network Russia Board of Directors. In 2002, Stanislav Shekshnia co-founded Zest Leadership International Consultancy.
Currently Stanislav Shekshnia is a Senior Partner of Howell Zest, Talent Equity Consulting Company which has offices in Moscow, Paris, St. Petersburg, Kiev, Almaty and Riga. He focuses on leadership, leadership development, corporate governance and business in emerging economies. Dr. Shekshnia also provides personal coaching to business owners and corporate executives.
Dr. Shekshnia is an Affiliate Professor of Entrepreneurship at INSEAD. He has over 15 years of graduate level teaching experience in Russia, France and United States; and is the author, co-author, or editor of 7 books, and numerous articles, executive commentaries, interviews and case studies on entrepreneurship, leadership, people management, intercultural management and business and management in Russia.
* * *
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. 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 $10.9 billion in revenue; $1.5 billion in EBITDA in 2013.
The Group's vertical integration allows for control of the entire production chain, from mining to final processing and delivery to our customers.
NLMK has the most competitive cash cost among global manufacturers; and one of the highest profitability levels in the sector. The company generated $10.4 billion in revenue; $2.4 billion in EBITDA; and a net profit of $845 million in 2014.
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).
For more information about NLMK Group, please visit NLMK Group's corporate website www.nlmk.com
Watch NLMK Group's new corporate film Special Steel.
Media contact infoSergey Babichenko+7 (916) 824 6743babichenko_sy@nlmk.com
Investor relations contact infoSergey Takhiev+7 985 760 55 74tahiev_sa@nlmk.com