March 6th 2018, Magnitogorsk                  Press Release

 

 

MMK Board Meeting Results

 

PJSC Magnitogorsk Iron and Steel Works ("MMK", or "the Company") (LSE: MMK) announces that MMK Board of Directors held a meeting on March 2nd 2018. The Board approved June 1st 2018 as the date for the Annual General Meeting of Shareholders (AGM) of the Company.

The cut-off date for inclusion in the shareholder register for the AGM is 8 May 2018 at the close of trading on the London Stock Exchange.

 

The agenda for the AGM will include:

 

1. Approval of the Company's annual report, annual financial statements;
2. Distribution of profit, including payment (announcement) of dividends, based on the results of the financial year;
3. Election of members of the Company's Board of Directors;
4. Election of members of the Company's Audit Commission;
5. Approval of the Company's auditor;
6. Approval of remuneration payments to members of the Company's Board of Directors;
7. Approval of remuneration payments to members of the Company's Audit Commission.

 

The Board also approved a recommendation by the beneficiary of Mintha Holding Limited (owns 84.26% of PJSC MMK voting shares) to include the following individuals in the voting ballots:

 

• For the Board of Directors: Viktor Rashnikov, Nikolai Lyadov, Olga Rashnikova, Sergei Ushakov, Pavel Shilyaev (recommendation on independent members of the Board of Directors will be prepared by the Committee for Nominations and Remuneration for the next meeting of the Board of Directors of the Company);
• For the Audit Commission: Alexander Maslennikov, Oksana Dyuldina, Galina Akimova.

 

The Board of Directors issued recommendations for the AGM to determine the scope of remuneration and compensation for members of the Board and Audit Commission for performing their duties in 2018-2019.  

 

About MMK

 

MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2017, the company produced 12.9 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2017 of USD 7,546 million and EBITDA of USD 2,032 million.

 

 

Contacts:

 

Investor Relations Department:

 

Andrey Serov, Head of IR
tel.: +7 (3519) 24-52-97
e-mail: serov.ae@mmk.ru

 

Communications Department:

 

Dmitry Kuchumov tel.: +7 (499) 238-26-13 e-mail: kuchumov.do@mmk.ru

Dmitry Bulin tel.: +7 (499) 238-26-13 e-mail: bulin.dn@mmk.ru