News

30 May 2012 NLMK Group

Results of voting at the 2012 Annual General Meeting

NLMK (LSE: NLMK) announces the results of voting at the Annual General Meeting (AGM) held on 30 May 2012. Shareholders approved the Company’s 2011 annual report, annual financial statements and allocation of profit, including the dividend payment for the financial year 2011. NLMK’s shareholders approved the total dividend for the financial year 2011 of RUB2.0 per ordinary share. Taking into account the previously paid interim dividends for the first half of 2011 of RUB1.4 per ordinary share, additional payment will amount to RUB0.6 per ordinary share. NLMK shareholders elected members to the Board of Directors, the Internal Audit Commission and the President of NLMK (Chairman of the Management Board) and approved the external auditor of the Company. NLMK shareholders elected nine members to the Board of 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). NLMK shareholders elected five members to the Company’s Internal Audit Commission: Ludmila Kladienko, Valery Kulikov, Sergey Nesmeyanov, Larissa Ovsyannikova, and Galina Shipilova. Alexey Lapshin was elected President of the Company (Chairman of the Management Board). ZAO PricewaterhouseCoopers Audit was approved as the Company’s Auditor and was authorised to conduct an audit of the Company’s financial statements prepared in accordance with Russian Accounting Standards (RAS) and US Generally Accepted Accounted Principles (US GAAP). NLMK’s shareholders approved the remuneration of members of NLMK’s Board of Directors for 2011. The remuneration was determined in accordance with the Regulations on the Board of Directors Members' Remuneration. The total remuneration of Board Members for 2011 amounted to US$2.091 million. Biography of Mr. Benedict Sciortino: From 1977 to 1995 Benedict Sciortino worked as an attorney-at-law and a partner with Baker & McKenzie, New York. He joined Duferco in 1995. Now he serves as a Managing Director of Duferco S.A. responsible for Duferco Group North American and South African business as well as trading operations, finance and legal matters, mergers and acquisitions. Mr Sciortino serves as a director of several operating companies, being a Member of the Board of Directors of NLMK Pennsylvania Corp., Sharon Coating LLC, NLMK Indiana LLC. Mr. Sciortino was born in New-York, USA in 1950. He graduated from Queens College, New York with a BA degree and received JD and LLM degrees from New England School of Law (Boston, MA) and New York University Law School, New York.