Mechel Reports Decisions of Its Board of Directors
Mechel PAO (NYSE:MTL) announced key decisions from its Board of Directors meeting held on May 30, 2022. The Board has recommended the election of nine directors for the upcoming general meeting on June 30, 2022. Notably, the Board also decided against paying an annual dividend for both ordinary and preferred shares. This decision reflects the company's current financial strategy amidst the broader economic context.
- Election of a diverse board that may bring fresh perspectives.
- Potential for strategic decision-making with a full Board in place.
- No annual dividend payment may signal financial constraints or caution in cash flow management.
MOSCOW, RUSSIA / ACCESSWIRE / May 31, 2022 / Mechel PAO (NYSE:MTL)(MOEX:MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 30, 2022.
The Board of Directors made the following recommendations to the general meeting of Mechel PAO's shareholders:
- to elect to Mechel PAO's Board of Directors:
- Igor V. Zyuzin
- Oleg V. Korzhov
- Georgy G. Petrov
- Alexander N. Kotsky
- Alexander D. Orishchin
- Irina N. Ipeeva
- Yuriy N. Malyshev
- Ivan F. Glumov
- Nelli R. Galeeva
- not to pay an annual dividend with respect to both ordinary and preferred shares.
The annual general meeting of shareholders will be held on June 30, 2022 by absentee balloting.
Filled vote bulletins may be mailed to 125167, Moscow, Krasnoarmeiskaya St, 1, Mechel PAO.
Bulletins in electronic form may be filled at the following Internet address: https://lk.rrost.ru
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Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com
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Mechel is an international mining and steel company. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.
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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.
SOURCE: Mechel PAO
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https://www.accesswire.com/703393/Mechel-Reports-Decisions-of-Its-Board-of-Directors
FAQ
What were the key decisions made by Mechel PAO's Board of Directors on May 30, 2022?
When will the general meeting of Mechel PAO's shareholders take place?
Who are the recommended candidates for Mechel PAO's Board of Directors?
Why did Mechel PAO decide not to pay dividends in 2022?
