8 April 2011
Annual General Meeting agenda and Dividend recommendation
On April 8, 2011 NLMK's Board of Directors took the decision to hold the Annual General Shareholders' Meeting on 03 June 2011. The following items will be addressed:
1. Approval of the Company's 2010 annual report; annual financial statements, including income statement; allocation of profit (including dividend declaration) for the financial year 2010;
2. Election of members to the Company's Board of Directors;
3. Election of the President of the Company (Chairman of the Management Board);
4. Election of members to the Company's Internal Audit Commission;
5. Approval of the Company Auditor; 6. Approval of new versions of NLMK’s internal documents;
7. Approval of the compensation to the members of the Board of Directors of NLMK.
The Board of Directors has recommended that the General Shareholders' Meeting declare dividends for 2010 on ordinary issued shares in the amount of RUR1.82 in cash per ordinary share (1 GDS = 10 ordinary shares). Taking into account the previously paid interim dividends for the first half of 2010 of RUR0.62 per ordinary share, additional payment will amount to RUR1.20 per ordinary share.
The dividends will be paid within 60 days after shareholders’ approval at the Annual General Shareholders' Meeting (AGM) of NLMK. The payment procedure is exercised in accordance with the following cash dividend process:
- NLMK will transfer funds for dividend payments on Global Depositary Shares (GDSs) to the depositary bank within 60 days from the date of the approval at the AGM. The Depositary bank will effectuate the payment of dividends no later than 5 days after receipt of funds. Dividends on GDSs will be paid, by default, in U.S. dollars (USD) based on USD/RUR spot F/X rate on the day of currency conversion by the Depositary bank.
The list of persons entitled to participate at the Annual General Shareholders’ Meeting will be prepared on the basis of the NLMK Shareholders’ Register as of 00:00, April 17th, 2011 (or 24:00 of 16th of April, 2011).