6 June 2014
Results of the 2014 Annual General Meeting
NLMK held its Annual General Meeting today. Shareholders voted to re-elect the Board of Directors, including three independent directors; to confirm Oleg Bagrin as the Group’s President, and to approve dividend payments of RUB 0.67 per share.
NLMK (LSE: NLMK) announces the results of voting at the Annual General Meeting (AGM) held on 6 June 2014.
Shareholders approved the Company’s 2013 annual report, annual financial accounts and income statements (financial results report).
Shareholders approved dividends for the 2013 financial year at RUB 0.67 per ordinary share. They also set the date on which shareholders entitled to the dividends will be determined: 17 June 2014.
Shareholders re-elected the Board of Directors, the President of NLMK (Chairman of the Management Board) and the Internal Audit Commission:
Nine members were elected to the Board of Directors (including three independent directors): Vladimir Lisin, Oleg Bagrin, Nikolai Gagarin, Karl Doering, Helmut Wieser (independent director), Karen Sarkisov, Vladimir Skorokhodov, Benedict Sciortino (independent director) and Franz Struzl (independent director).
Oleg Bagrin was elected President of the Company (Chairman of the Management Board).
Five members were elected to the Company’s Internal Audit Commission: Vladislav Ershov, Natalya Krasnykh, Valery Kulikov, Sergey Nesmeyanov, and Galina Shipilova.
ZAO PricewaterhouseCoopers Audit was authorized to conduct an audit of the Company’s financial statements in accordance with Russian Accounting Standards (RAS) and US Generally Accepted Accounting Principles (US GAAP).
Shareholders approved changes to NLMK’s internal documents, including the Charter, Regulations on General Shareholders’ Meetings, and Dividend Policy.
Shareholders approved a related-party transaction between Novolipetsk (the Buyer) and Stoilensky (the Supplier) for the purchase of iron ore concentrate and sinter ore.
Remuneration of members of the Board of Directors for 2013 was approved in accordance with the Regulations on the Board of Directors Members' Remuneration.
About NLMK Group
NLMK Group is a vertically integrated steelmaking company, and Russia’s leading manufacturer of steel and HVA rolled products. NLMK Group’s high-quality steel products are used in a variety of industries, from construction and machine-building to the manufacture of power generation equipment and offshore windmills.
NLMK’s production facilities are located in Russia, Europe and the USA. The Company’s crude steel capacity is over 17 m tpa, of which approximately 16 m t are located in Russia. The Company generated $10.9 billion in revenue and $1.5 billion in EBITDA in 2013.
NLMK’s ordinary shares are traded on the Moscow Stock Exchange (ticker “NLMK”) and its global depositary shares on the London Stock Exchange (ticker “NLMK:LI”).