MMC Norilsk Nickel slates EGM for January
OJSC MMC Norilsk Nickel (Company or MMC Norilsk Nickel) announced that the Board of Directors at its yesterday meeting decided unanimously to hold an Extraordinary General Meeting of shareholders on January 29, 2013 to allow shareholders to examine the matter of reducing the share capital of the Company as well as of introducing amendments into its Charter. The meeting will be held in absentia with the participants being listed on December 24, 2012, the Company press release said.
The Board of Directors has ruled to advise the shareholders to vote in favor of reducing the share capital of the Company by RUB 18,470,925 down to RUB 172,156,822 by redeeming 18,470,925 ordinary shares with par value of RUB 1 each, the shares acquired by the Company through liquidating Norilsk Nickel Investments Ltd.
Another ruling concerned convening another in person extraordinary shareholders' meeting on March 11, 2013. The event will focus on "Early termination of powers of the Board of Directors" and "Electing the Company’s Board of Directors."
About MMC Norilsk Nickel
MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.
The key production units of the Company’s group in Russia are at the Taymyr and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.
MMC Norilsk Nickel’s shares are traded at MICEX-RTS. ADR’s on the Company’s shares are traded on the other the counter market in the US and at the London and Berlin stock exchanges.
