PJSC Magnitogorsk Iron and Steel Works (MMK)
PJSC Magnitogorsk Iron and Steel Works: MMK announces the AGM results
02-Jun-2020 / 11:14 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
MMK announces PJSC Magnitogorsk Iron & Steel Works
("MMK", or "the Group") (MICEX-RTS: MAGN;
LSE: MMK), one of the world's largest steel
producers, announces that the Annual
THE AGM results General Meeting of Shareholders ("the AGM")
was held in absentia on 29 May 2020. The
AGM approved the annual report and accounts
for 2019 and approved the payment of
dividends.
2 june 2020 Based on the results of Q4 2019, dividends
will be paid in the amount of RUB 1.507
(incl. tax) per share.
Magnitogorsk, Russia
The Q4 2019 dividend record date was
determined as 17 June 2020.
Previously shareholders received interim
dividends for Q1 2019 of RUB 16,627.4 mln
(RUB 1.488 per share, incl. tax), for Q2
2019 of RUB 7,710.3 mln (RUB 0.690 per
share, incl. tax), and for Q3 2019 of RUB
18,437.6 mln (RUB 1.650 per share, incl.
tax).
The AGM elected MMK's Board of Directors as
follows:
- Victor Rashnikov;
- Pavel Shilyaev (CEO of MMK);
- Sergey Ushakov (Deputy Director for
Sales at MMK);
- Andrei Eremin (Director for Economics
at MMK);
- Olga Rashnikova;
- Zumrud Rustamova (Deputy CEO of
Polymetal);
- Kirill Levin (First Deputy Chairman of
the Management Board at Russian
Agricultural Bank).
In addition, three directors were elected
who meet the criteria for independence of
the Russian Corporate Governance Code as
recommended by the Central Bank of Russia,
and the Listing Rules of Moscow Exchange:
- Valery Martsinovich (Strategic Director
for European Fast-Growing Markets Cluster
at Hay Group);
- Tav Morgan (Department Director at
Baring Vostok Capital Partners Group
Limited);
- Nikolay Nikiforov (Chairman of the
Board of Directors of Diginavis).
The shareholders approved:
- PricewaterhouseCoopers Audit as MMK's
auditor;
- Remuneration and compensation paid to
members of the Board of Directors during
their performance of duties in 2020-2021
(RUB 80 million).
About MMK Subscribe to our official MMK
channel in Telegram [1], to be
the first to know about key MMK
news.
MMK is one of the world's
largest steel producers and a
leading Russian metals
company. The Group's
operations in Russia include a
large steel-producing unit
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
2019, MMK produced 12.5 mln
tonnes of crude steel and 11.3
mln tonnes of commercial steel
products.
??? is an industry leader in
terms of production costs and
margin. MMK Group had revenue
in 2019 of USD 7,566 mln and
EBITDA of USD 1,797 mln. MMK's
debt load is the lowest for
the industry. Net debt/EBITDA
ratio was -0.13? at the end of
2019. The Group's
investment-grade rating is
confirmed by the leading
global rating agencies Fitch,
Moody's, S&P.
MMK's ordinary shares are
traded on Moscow Exchange,
while its depositary receipts
are traded on the London Stock
Exchange. Free float amounts
to 15.7%.
KEY UPCOMING EVENTS IN 2020
Investor Relations
Department
Financial calendar [2]
Veronika Kryachko
+7 (3519) 25-75-01
kryachko.vs@mmk.ru
14 July Q2 and 6M 2020 Trading Update
29 July Q2 and 6M 2020 IFRS financials
13 October Q3 and 9M 2020 Trading Update
22 October Q3 and 9M 2020 IFRS financials
media contacts
Dmitriy Kuchumov
+7 (499) 238-26-13
kuchumov.do@mmk.ru
Oleg Egorov
+7 (499) 238-26-13
egorov.oa@mmk.ru
ISIN: US5591892048
Category Code: AGM
TIDM: MMK
LEI Code: 253400XSJ4C01YMCXG44
Sequence No.: 67330
EQS News ID: 1060403
End of Announcement EQS News Service
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(END) Dow Jones Newswires
June 02, 2020 05:14 ET (09:14 GMT)
