PJSC Mechel: Mechel Reports Decisions of Annual General Shareholder Meeting
Mechel PAO (NYSE:MTL) held its annual general shareholder meeting on June 30, 2022, announcing key decisions. Shareholders opted not to pay dividends on both ordinary and preferred shares, leaving 2021 profit of 466.8 million rubles unallocated. The Board of Directors elected includes Igor V. Zyuzin and Oleg V. Korzhov among others. Additionally, the meeting approved Mechel's revised charter and appointed Energy Consulting AO as the auditor. These decisions could have significant implications for Mechel's future financial performance and shareholder relations.
- Appointment of a stable Board of Directors with experienced members.
- Approval of revised charter, potentially enhancing operational governance.
- Decision to not pay dividends may disappoint shareholders.
- Unallocated profit raises concerns about financial management.
MOSCOW, RUSSIA / ACCESSWIRE / July 1, 2022 / Mechel PAO (NYSE:MTL)(MOEX:MTLR), a leading Russian mining and metals company, announces the decisions made by the annual general shareholder meeting held on June 30 by correspondence.
The shareholders decided on the following:
- not to paydividend with respect to both ordinary and preferred shares and to leave the profit of year 2021 (466,825,602.72 rubles) unallocated;
- 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
- to approve Mechel PAO's revised charter;
- to approve Energy Consulting AO as Mechel PAO's auditor.
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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. Its products are marketed in Europe, Asia, North and South America, Africa. 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
View source version on accesswire.com:
https://www.accesswire.com/707311/PJSC-Mechel-Mechel-Reports-Decisions-of-Annual-General-Shareholder-Meeting
FAQ
What decision was made regarding dividends for Mechel PAO (MTL)?
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