OJSC Magnitogorsk Iron and Steel Works: MMK Announces AGM Results

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OJSC Magnitogorsk Iron and Steel Works / AGM Statement 
MMK Announces AGM Results 
 
26-May-2017 / 11:59 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EquityStory.RS, 
LLC - a company of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
_26 May 2017, Magnitogorsk_ 
 
*MMK Announces AGM Results* 
 
*OJSC Magnitogorsk Iron and Steel Works ("MMK" or "the Company") announces 
that today, 26 May 2017, it held its Annual General Meeting of Shareholders 
(AGM) in Magnitogorsk. The AGM approved MMK's annual report and financial 
statements for FY 2016 and decided to pay a dividend for the 2016 financial 
year of RUB 1.242 per common share of issued stock (incl. tax). Earlier 
shareholders were paid interim dividends for H1 2016 of RUB 0.72 per common 
share (incl. tax). * 
 
The AGM elected MMK's Board of Directors. The new Board of Directors 
comprises Victor Rashnikov, Pavel Shilyaev (CEO at MMK), Nikolai Lyadov 
(Deputy CEO for Sales at MMK), Sergey Ushakov (Deputy CEO for Operations at 
MMK), Olga Rashnikova (Head of the Financial Department at MAGSTORN LLC.), 
Zumrud Rustamova (Deputy CEO at AO Polymetal), Kirill Levin (Deputy Chairman 
of the Management Board at AO Russian Agricultural Bank). In addition, three 
directors were elected who meet the Russian Corporate Governance Code's 
criteria for independence: Ruben Aganbegyan (President of Bank PJSC "FC 
Otkritie"), Valery Martsinovich (Strategic Director for European Fast 
Growing Markets Cluster at Hay Group), and Ralf Tavakolian Morgan 
(Department Director at Baring Vostok Capital Partners Group Limited). 
 
Alexander Maslennikov, Oksana Dyuldina, and Galina Akimova were elected as 
members of the Audit Commission. AO PricewaterhouseCoopers Audit was 
approved as the Company's Auditor. 
 
Shareholders approved remuneration and compensation for the Board of 
Directors and members of the Audit Commission for 2017-2018. 
 
Shareholders made a resolution to change the legal name of OJSC MMK in line 
with Chapter 4 of the Russian Civil Code to the following name: 
 
- full legal name - Public Joint Stock Company Magnitogorsk Iron and Steel 
Works 
 
- short legal name - PJSC MMK 
 
New versions of the Charter and bylaws of PJSC MMK were approved. 
 
The new legal name PJSC MMK, new versions of the Charter and bylaws of PJSC 
MMK come into force as of the date of the state registration of the Charter 
of PJSC MMK by a registration authority. 
 
After the AGM, the first meeting of MMK's new Board of Directors took place, 
at which Victor Rashnikov was elected as Chairman. 
 
*Notes for editors:* 
 
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 2016, the company produced 12.5 million tonnes 
of crude steel and 11.6 million tonnes of commercial steel products. MMK 
Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 
million. 
 
*Contacts:* 
 
*Investor Relations Department:* 
 
_Andrey Serov, Head of IR _ 
_tel.: [phone]_ 
_e-mail: [e-mail] _ 
 
*Communications Department:* 
 
_Dmitry Kuchumov            _Dmitry Bulin 
tel.: [phone]    tel.: [phone] 
e-mail: [e-mail]_ E-mail: [e-mail]_ 
 
The EquityStory.RS, LLC Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de/ukreg 
Language:      English 
Company:       OJSC Magnitogorsk Iron and Steel Works 
               93 Kirov St. Russia 
               455000 Magnitogorsk, Chelyabinsk regi 
               Russia 
Phone:         [phone] 
Fax:           [phone] 
E-mail:        [e-mail] 
Internet:      www.mmk.ru 
ISIN:          US5591892048 
Category Code: AGM 
TIDM:          MMK 
Sequence No.:  4236 
 
End of Announcement EquityStory.RS, LLC News Service 
 
577809 26-May-2017 
 
 

(END) Dow Jones Newswires

May 26, 2017 06:00 ET (10:00 GMT)