News

29 December 2007

NLMK makes buy out offer to minority shareholders in three subsidiaries

On 29 December, 2007 NLMK submitted a buy out offer to the minority shareholders of OJSC Stagdok, OJSC Dolomite and OJSC Altai-koks. The offer aims to improve the efficiency of managing these subsidiaries and has been proposed under Russian Federal Law. Based on an independent valuation exercise, the acquisition price for the shares will be: OJSC Altai-koks – RUR12.53 per share; OJSC Stagdok - RUR3,602.03 per share; OJSC Dolomite – RUR754.74 per share. CJSC Investment Company "Libra Capital" will serve as the Agent for the acquisition of shares. The Agent will establish Share Purchase Agreements with each shareholder willing to sell its shares. The shares will be transferred to NLMK’s accounts within 15 days of the acceptance of the offer by the Seller. The payment for shares will be made by bank transfer within 15 days of the date of the shares being credited to NLMK’s account in shareholder registers of the above companies. Applications for the sale of shares shall be sent to: CJSC Investment Company "Libra Capital", 127051, Russian Federation, Moscow, ul. Sadovaya-Samotechnaya, 24/27, as well as CJSC Investment Company "Libra Capital", Lipetsk Branch, 398017, Lipetsk, ul. 9 Maya, 10B.