TMK Share Option Programme

22 Nov 2007 14:04

OAO TMK22 November 2007 -------------------------------------------------------------------------------- November 22, 2007 PRESS RELEASE TMK Announces the Completion of the First Stage of its Options Programme. OAO "TMK" announces the completion of the first stage of its three-year optionsprogramme (the Programme) Members of the Board of Directors, the ManagementBoard and senior management were eligible to participate. The Programme was approved in March of this year and split into three stageswith options exercisable in 2007, 2008 and 2009. Participants can purchase up to1.1% of the total ordinary shares in OAO "TMK". As of November 19th, 2007, the members of the Board of Directors in theaggregate held 444,275 shares or a 0.05 % share of TMK's charter capital. The members of the Management Board had acquired 711,338 shares, representing a0.0815% stake in TMK's charter capital. Konstantin Semerikov, TMK's CEO, said that the Programme was initiated toprovide additional incentives to the top management of the company."We follow best practices such as this option programme, to further motivatemanagement to increase the company's market capitalization," he underlined. OAO "TMK" Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and oneof the three global market leaders. In 2006, TMK sold approximately 3 million tonnes of pipes. TMK supplies tocompanies in more than 60 countries. TMK production facilities are located in Russia and Romania: • Volzhsky Pipe Plant; • Seversky Tube Works; • Taganrog Metallurgical Works; • Sinarsky Pipe Plant; • Orsky Machine Building Plant; • Truboplast pipe coating company • SC TMK-ARTROM SA; • SC TMK-Resita SA. For further information please contact: TMK PR Department: Sergey Ilin Tel: +7 495 775 7600 ext. 2149 Email: pr@tmk-group.com Or visit: www.tmk-group.com This information is provided by RNS The company news service from the London Stock Exchange