19 April 2013
Notice of AGM and FY2012 Dividend Recommendation
NLMK (LSE: NLMK), a leading Russian steel company, today announces the results of the meeting of the Board of Directors. The Board took the decision to hold the Annual General Shareholders' Meeting on 7 June 2013, and approved the following AGM agenda:
1. Approval of the Company's 2012 annual report; annual financial statements, including income statement; allocation of profit (including dividend declaration) and loss for the financial year 2012;
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 revisions 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 2012 on ordinary issued shares in the amount of RUB0.62 in cash per one ordinary share. Dividend payments will therefore total USD119 million, which is approximately equivalent to 20% of NLMK’s net profit under US GAAP for 2012 (at USD/RUR rate at the date of the recommendation).
The dividends will be paid within 60 days after shareholders’ approval at the Annual General Shareholders' Meeting (AGM) of NLMK.
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 list of persons entitled to participate at the AGM will be prepared on the basis of the NLMK Shareholder Register as of 00:00, April 25, 2013 (or 24:00, April 24, 2013).
The Board also approved NLMK Group’s revised consolidated budget for 2013.