24 Mar 2010 10:06
March 24, 2010 PRESS RELEASE
TMK Upgrades ADR Listing to OTCQX
TMK, one of the world's leading producers of steel pipes for the oil and gas industry, today announces that its American Depositary Receipts (ADRs) have been listed on the OTC trading platform in the United States.
Each TMK ADR, representing four ordinary shares, will trade on the OTCQX International Premier trading platform, the OTC market's highest tier, under the symbol "TMKXY".
Current financial disclosure and real-time Level 2 quotes for TMK are available at www.otcmarkets.com symbol=TMKXY.
The Bank of New York Mellon Corp., which acts as Depositary for TMK's ADR program, will serve as Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on listing requirements.
TMK GDRs are currently traded on the London Stock Exchange (TMKS) and common shares trade on the Russian Trading System (TRMKG) and MICEX stock exchange (TRMKG).
"TMK awareness has been steadily increasing ever since the company began operating in the U.S. We appreciate the interest of North American investors and plan to expand our presence in the world's largest financial market. The next logical step in our commitment to improve the company's transparency and stock liquidity was the listing of TMK ADRs on the OTCQX, which, in particular, provides access to a wider range of retail and institutional investors," said Vladimir Shmatovich, TMK Senior Vice-President for Strategy and Business Development.
TMK (www.tmk-group.com)
TMK is one of the world's leading manufacturers and suppliers of steel pipes for the oil and gas industry. The company operates 21 production sites in Russia, the United States, Romania, and Kazakhstan, with aggregate annual production capacity exceeding 6 million tonnes, including over 2 million tonnes of OCTG capacity. TMK has a strong international presence and delivers its products to customers in more than 65 countries.
TMK's ordinary shares are listed on the RTS and MICEX Stock Exchanges in Russia and its GDRs on the London Stock Exchange.
·; Volzhsky Pipe Plant·; Seversky Tube Works·; Taganrog Metallurgical Works·; Sinarsky Pipe Plant·; TMK IPSCO·; TMK-Europe·; TMK-Kaztrubprom·; TMK Oilfield Services·; TMK-Premium Service
For further information please contact:
TMK IR DepartmentAlexei RatnikovOlivier HarveyTel: +7 495 775 7600Email: IR@tmk-group.com