Source - RNS
RNS Number : 0405H
Novolipetsk Steel
02 June 2017
 

Press release

2 June 2017

NLMK SHAREHOLDERS CONFIRMED OLEG BAGRIN AS THE GROUP'S PRESIDENT AND ELECTED NEW BOARD OF DIRECTORS

Shareholders of NLMK Group at its Annual General Meeting held on 2 June 2017 voted to confirm Oleg Bagrin as the Group's President and Chief Executive Officer; and to elect a new Board of Directors, which includes five independent directors.

Nine members of the Board of Directors were elected, including five independent directors: Vladimir Lisin, Oleg Bagrin, Nikolai Gagarin, Tomas Veraszto (independent director), Helmut Wieser (independent director), Karen Sarkisov, Stanislav Shekshnia (independent director), Benedict Sciortino (independent director) and Franz Struzl (independent director).

The shareholders also approved the Company's 2016 Annual Report and Annual Financial Statements.

Shareholders approved the payment of remuneration to members of NLMK's Board of Directors; elected members of the Internal Audit Commission, and approved the Auditor.

 

 

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world. NLMK's metal products are used in various industries, from construction and engineering to the manufacture of power-generating equipment and offshore wind turbines.

NLMK's production assets are located in Russia, Europe, and the United States. The Company's liquid steel production capacity is over 17 million tonnes per year.

NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the sector. In 12M 2016, the Company generated $7.636 billion in revenue and $1.941 billion in EBITDA. As of 31 December 2016, Net debt/EBITDA stood at 0.36х. The company has an investment grade credit rating from S&P and Fitch.

NLMK free-float is 16%, its ordinary shares are traded on the Moscow Stock Exchange (MICEX-RTS, ticker symbol: NLMK), and its global depositary shares are traded on the London Stock Exchange (ticker symbol: NLMK:LI). For more information on shareholder structure, please follow the link. 

In 2016, NLMK Group received Steel Industry Leadership Award from S&P Global Platts, a global analytical agency.

 

 

For more information on NLMK Group, please visit www.nlmk.com/en

 

 

 

Media contact info:

Sergey Babichenko

+7 (916) 824 6743

[email protected]

Investor Relations contact info:

Sergey Takhiev

+7 (495) 544 5429

[email protected]

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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