OJSC MAGNITOGORSK IRON AND STEEL WORKS (FRA:US559189) PJSC Magnitogorsk Iron and Steel Works: MMK announces the AGM results
Transparency directive : regulatory news
01/06/2021 09:11
PJSC Magnitogorsk Iron and Steel Works (MMK)
PJSC Magnitogorsk Iron and Steel Works: MMK announces the AGM results
01-Jun-2021 / 09:11 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
THE AGM results
1 june 2021
Magnitogorsk, Russia
|
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 General Meeting of Shareholders ("the AGM") was held in absentia on 28 May 2021. The AGM approved the Integrated annual report and accounts for 2020 and approved the payment of dividends.
Based on the results of Q4 2020, dividends will be paid in the amount of RUB 0.945 (incl. tax) per share. Also dividends for the Q1 2021 will be paid in the amount of RUB 1.795 (incl. tax) per share.
The Q4 2020 and Q1 2021 dividend record date was determined as 17 June 2021.
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.
In addition, five 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 Korn Ferry);
- Tav Morgan (Department Director at Baring Vostok Capital Partners Group Limited);
- Rashid Ismailov (President of VimpelCom);
- Olga Naumova (CEO at Eastern Retail Network LLC and CEO at LORUS SCM LLC).
- Mikhail Oseevskiy (President of Rostelecom);
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 2021-2022 (RUB 120 million).
|
About MMK
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 premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln tonnes of commercial steel products.
ММK is an industry leader in terms of production costs and margins. Group revenue in 2020 totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.06х at the end of 2020. The Group's investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's and S&P.
MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 18.7%.
|
Subscribe to our official MMK channel in Telegram, to be the first to know about key MMK news.
|
Investor Relations Department
Veronika Kryachko +7 (915) 380-62-66 kryachko.vs@mmk.ru
ESG DEPARTMENT
Yaroslava Vrubel +7 982 282 9682 vrubel.ys@mmk.ru
Communications Department
Dmitriy Kuchumov +7 (499) 238-26-13 kuchumov.do@mmk.ru
Oleg Egorov +7 (499) 238-26-13 egorov.oa@mmk.ru
|
KEY UPCOMING EVENTS IN 2020
Financial calendar
|
1 June
|
Virtual conference for retail investors in Telegram, Gazprombank
|
21 June
|
Virtual conference for retail investors, Smart-lab
|
22-25 June
|
Rencap flagship investor conference, online
|
14 July
|
Q2 and 6M 2021 Trading Update
|
22 July
|
Q2 and 6M 2021 IFRS financials
|
27 July
|
Virtual conference for retail investors,
VTB Capital
|
|
|
|
|
ISIN: |
US5591892048 |
Category Code: |
AGM |
TIDM: |
MMK |
LEI Code: |
253400XSJ4C01YMCXG44 |
Sequence No.: |
108472 |
EQS News ID: |
1202897 |
|
End of Announcement |
EQS News Service |