6 Mar 2017 07:00
Press release
06 March 2017
NLMK Board of Directors votes to hold Annual General Shareholders' Meeting on 2 June 2017
At a meeting held on the 3th of March, directors of NLMK Group (LSE:NLMK), an international steel company with assets in Russia, the USA and the EU, resolved to convene the Annual General Shareholders' Meeting on 2 June 2017.
The Board suggested the shareholders re-elect Mr. Oleg Bagrin as President (CEO) of the company.
NLMK shareholders nominated nine existing members of the Board, including five independent members:
· Mr. Oleg Bagrin, NLMK Group CEO
· Mr. Tomas Veraszto (independent Board member)
· Mr. Helmut Wieser (independent Board member)
· Mr. Nikolai Gagarin
· Mr. Vladimir Lisin, Chairman of the Board of Directors
· Mr. Karen Sarkisov
· Mr. Stanislav Shekshnya (independent Board member)
· Mr. Benedict Sciortino (independent Board member)
· Mr. Franz Struzl (independent Board member)
The Board also suggested the shareholders elect an Internal Audit Committee of 5 members.
The list of persons entitled to participate at the AGM will be prepared on the basis of the NLMK Shareholder Register as of 8 May 2017.
The AGM agenda will be approved by the Board and published later.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK's metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe, and the United States. The Company's liquid steel production capacity is over 17 million tonnes per year.
NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 9M 2016, the Company generated $5.7 billion in revenue and $1.4 billion in EBITDA. As of 30 September 2016, Net debt/EBITDA stood at 0.39х. The company has an investment grade credit rating from S&P and Fitch.
NLMK free-float is 16%, its ordinary shares are traded on the Moscow Stock Exchange (MICEX-RTS, ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI). For more information on shareholder structure, please follow the link.
In 2016 NLMK Group received Steel Industry Leadership Award from S&P Global Platts, a global analytical agency.