TMKS.L Regulatory News (TMKS)

31 Jan 2007 08:53

OAO TMK31 January 2007 January 31, 2007 Shareholders of OAO TMK approve revised Management Board Regulations At an Extraordinary General Meeting of Shareholders (EGM), which took place inMoscow on January 17, 2007, the shareholders of OAO TMK reviewed the proposedamendments to the Management Board Regulations of the Company. The revised Management Board Regulations of OAO TMK contain a supplementaryphrase in paragraph four "Rights, obligations and responsibility of members ofthe Management Board" concerning a new obligation for members of the ManagementBoard to inform the Board of Directors, the Audit Committee and the auditor ofOAO TMK in writing of their holdings in OAO TMK securities as well as ofthe sale and (or) purchase of securities of OAO TMK. 89.53% of shareholders took part in the meeting, and this decision was supportedby 89.18% of votes cast. "The results of the vote show that the overwhelming majority of shareholderssupport the drive at TMK for greater transparency and openness of managementwith regard to shareholders of the Company and measures to prevent the use ofinsider information in the trading of Company's shares", said OAO TMK's CEOKonstantin Semerikov. OAO TMK Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and oneof the three global market leaders. TMK GDRs and common shares are traded on theLondon Stock Exchange and Russian Trading System. In 2006 the total volume of pipes shipped reached over 3 million tonnes. TMKsupplies pipes to companies in more than 60 countries. TMK production facilities are located in Russia and Romania: • Volzhsky Pipe Plant• Seversky Pipe Plant• Taganrog Metallurgical Works• Sinarsky Pipe Plant• SC TMK-ARTROM SA• SC TMK-Resita SA TMK's PR Department: Tel: +7 (495) 775-7600Fax: +7 (495) 775-7601E-mail: pr@tmk-group.com Gavin Anderson & Company (PR) Tel: +44 207 554 1400 Dick MillardDaniel HunterMichael Turner This information is provided by RNS The company news service from the London Stock Exchange