MOSCOW, June 28, 2013 (GLOBE NEWSWIRE) -- Mechel OAO (NYSE:MTL) , one of the leading Russian mining and metals companies, announces that its Annual General Shareholders' Meeting was held on June 28, 2012.
The following key resolutions were adopted by shareholders at the meeting:
- To pay no dividends on ordinary shares.
- To pay a dividend of 0.05 rubles per one preferred share (approximately $0.002 per one preferred share and approximately $0.001 per one preferred ADR*). The payment is due to be made by bank transfer in less than 60 days since the decision to pay was made.
- To allocate profit from past years as follows: - dividend payment of placed Company's preferred shares – 6,937,845.75 rubles (about $221,969.16*) - remaining profit of 19,174,169,396.24 rubles (about $613,476,796.26 *) leave undistributed.
- To elect the following people to Mechel's Board of Directors:
- Arthur David Johnson;
- Vladimir Gusev;
- Igor Zyuzin;
- Igor Kozhukhovsky;
- Yuri Malyshev
- Yevgeny Mikhel;
- Roger Ian Gale;
- Viktor Trigubko;
- Alexei Ivanushkin.
The number of the Board's members remained the same as last year. Yuri Malyshev replaced Alexander Yevtushenko and Alexei Ivanushkin replaced Valentin Proskurnya as members of the Board of Directors.
- To approve the Company's Annual Report for 2012.
- To approve the Company's Annual Financial Statements inclusive of the Income Statement (Profit and Loss Accounts) for 2012.
- To elect the following people to Mechel OAO's audit committee:
- Andrey Stepanov;
- Evgeny Yaminsky;
- Alexei Vlasenko.
- To appoint Energy Consulting/Audit ZAO as the auditor of Mechel OAO (Moscow).
- To approve the revised Bylaw on rewards to the members of Mechel OAO's Board of Directors and compensation of expenses incurred by them while performing the functions of members of the Board of Directors.