TMKS.L Regulatory News (TMKS)

27 Feb 2007 11:18

OAO TMK27 February 2007 February 27, 2007 OAO TMK Holds Board Meeting OAO TMK ("TMK or "the Company") announced today that the Board of Directors ofthe Company and directors from four of the Company's plants, held a jointmeeting in Yekaterinburg, Russia on February 21-22, 2007. At the meeting, TMK's operational and financial results for 2006 and the resultsof the investment activities in 2006, as well as the investment plans through2007 were reviewed. The TMK Board of Directors also approved a new text of theDividend Policy for the Company, which states that the Company's goal is to paydividends not less than 25% of consolidated net profit under IFRS standards. 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 • Orsk Engineering Plant • SC TMK-ARTROM SA • SC TMK-Resita SA For further information please contact: TMK IR Department:Natalia DokuchaevaTel: +7 495 775 7660Email: ir@tmk-group.com Gavin Anderson & Company (PR):Dick Millard/Michael TurnerTel: +44 207 554 1400Email: tmk@gavinanderson.co.uk This information is provided by RNS The company news service from the London Stock Exchange