6 Aug 2012 12:17
August 06, 2012
Announcement
OAO TMK ANNOUNCES PUBLICATION OF NOTICE TO HOLDERS OF U.S.$412,500,000 5.25 PER CENT. GUARANTEED CONVERTIBLE BONDS
OAO TMK (TMK) announces that it has published a notice (the Notice) to the holders of its U.S.$412,500,000 5.25 per cent. Guaranteed Convertible Bonds due 2015 (ISIN: XS0484654040 / Common Code: 048465404) (the Convertible Bonds).
Adjustment of Conversion Price
On 26 June 2012, TMK announced that it would pay a dividend of RUB 2.70 per ordinary Share to Shareholders on the register of GDR holders on the record date of May 21, 2012.
Terms and Conditions of the Convertible Bonds require an adjustment to be made to the Conversion Price in accordance with the terms and conditions of the Convertible Bonds on the occurrence of certain corporate events. As a result of the announcement by TMK that it will pay a Cash Dividend to the Shareholders, an adjustment to the Conversion Price is required pursuant to Condition 6.2(b)(iii).
The current Conversion Price is U.S.$22.927 per GDR.
From and including May 18, 2012, being the Effective Date, the Conversion Price is adjusted to U.S.$22.308. All other Terms and Conditions of the Convertible Bonds remain unchanged.
Conversion Agent
Deutsche Bank AG, London Branch
Effective Date of Conversion Price Adjustment
The adjustment to the Conversion Price became effective on May 18, 2012.
Defined Terms
Unless otherwise defined in this announcement, terms used in this announcement have the meanings given to them in the Terms and Conditions of the Convertible Bonds.
This announcement is given by:
OAO TMK40/2A Pokrovka Str.105062 MoscowRussian Federation
This notice appears as a matter of record