PJSC Magnitogorsk Iron and Steel Works
MMK Announces AGM Results
OJSC Magnitogorsk Iron and Steel Works / AGM Statement
26 May 2017, Magnitogorsk OJSC Magnitogorsk Iron and Steel Works (“MMK” or “the Company”) announces that today, 26 May 2017, it held its Annual General Meeting of Shareholders (AGM) in Magnitogorsk. The AGM approved MMK’s annual report and financial statements for FY 2016 and decided to pay a dividend for the 2016 financial year of RUB 1.242 per common share of issued stock (incl. tax). Earlier shareholders were paid interim dividends for H1 2016 of RUB 0.72 per common share (incl. tax). The AGM elected MMK’s Board of Directors. The new Board of Directors comprises Victor Rashnikov, Pavel Shilyaev (CEO at MMK), Nikolai Lyadov (Deputy CEO for Sales at MMK), Sergey Ushakov (Deputy CEO for Operations at MMK), Olga Rashnikova (Head of the Financial Department at MAGSTORN LLC.), Zumrud Rustamova (Deputy CEO at AO Polymetal), Kirill Levin (Deputy Chairman of the Management Board at AO Russian Agricultural Bank). In addition, three directors were elected who meet the Russian Corporate Governance Code’s criteria for independence: Ruben Aganbegyan (President of Bank PJSC “FC Otkritie”), Valery Martsinovich (Strategic Director for European Fast Growing Markets Cluster at Hay Group), and Ralf Tavakolian Morgan (Department Director at Baring Vostok Capital Partners Group Limited). Alexander Maslennikov, Oksana Dyuldina, and Galina Akimova were elected as members of the Audit Commission. AO PricewaterhouseCoopers Audit was approved as the Company’s Auditor. Shareholders approved remuneration and compensation for the Board of Directors and members of the Audit Commission for 2017-2018. Shareholders made a resolution to change the legal name of OJSC MMK in line with Chapter 4 of the Russian Civil Code to the following name: – full legal name – Public Joint Stock Company Magnitogorsk Iron and Steel Works – short legal name – PJSC MMK New versions of the Charter and bylaws of PJSC MMK were approved. The new legal name PJSC MMK, new versions of the Charter and bylaws of PJSC MMK come into force as of the date of the state registration of the Charter of PJSC MMK by a registration authority. After the AGM, the first meeting of MMK’s new Board of Directors took place, at which Victor Rashnikov was elected as Chairman.
Investor Relations Department: Andrey Serov, Head of IR Communications Department:
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Language: | English |
Company: | OJSC Magnitogorsk Iron and Steel Works |
93 Kirov St. Russia | |
455000 Magnitogorsk, Chelyabinsk regi | |
Russia | |
Phone: | +7 (3519) 24-40-09 |
Fax: | +7 (3519) 24-73-09 |
E-mail: | ir@mmk.ru |
Internet: | www.mmk.ru |
ISIN: | US5591892048 |
Category Code: | AGM |
TIDM: | MMK |
Sequence No.: | 4236 |
End of Announcement | EquityStory.RS, LLC News Service |