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PUBLIC JOINT STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS

(MAGN)
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Public Joint Stock Magnitogorsk Iron & Steel Works : Extract from the minutes On recommendations to MMK PJSC's Extraordinary General Shareholders Meeting on the size of dividends on MMK's outstanding shares and the procedure of their payment based on the results of MMK's operations in 9 months of 2021 repor

12/02/2021 | 11:52pm EST

Public Joint-Stock Company

Magnitogorsk Iron and Steel Works (MMK PJSC)

EXTRACT FROM THE MINUTES OF THE MEETING № 6

October 25, 2021

Magnitogorsk

Re.: Resolution of the Board of Directors of Public Joint Stock Company Magnitogorsk Iron and Steel Works taken by absentee voting

Pursuant to Article 68 of the Federal Law On Joint Stock Companies, p. 11.23 of the Charter of PJSC MMK, Chapter IV of the Provision on the Board of Directors of PJSC MMK, Mr. Viktor F. Rashnikov, the Chairman of the Board of Directors of PJSC MMK, passed the decision on the 20th of October, 2021 on adopting the resolution by the Board of Directors of PJSC MMK by absentee voting on the following items of the absentee voting agenda:

2 Recommendation to the Extraordinary General Meeting of Shareholders of PJSC MMK on the size of dividends on PJSC MMK's placed ordinary shares and procedure of payment thereof based on the performance results for nine months of 2021 reporting year, and proposal to the extraordinary general meeting of shareholders of PJSC MMK on setting the date on which the persons that are entitled to receiving the dividends are to be determined.

On the second item of the absentee voting agenda it was resolved:

Pursuant to subparagraph 11 of paragraph 1 of Article 65 of the Federal Law On Joint Stock Companies, to recommend to the Extraordinary General Meeting of Shareholders of PJSC MMK the size of dividends on PJSC MMK's placed registered ordinary shares based on the performance results for nine months of 2021 reporting year, to be RUB 2.663 (tax included) per share.

The dividends shall be paid in monetary form, by money transfer within the period set by the Federal Law "On Joint Stock Companies".

Pursuant to paragraph 3 of Article 42 of the Federal Law On Joint Stock Companies, paragraph 8.4 of the PJSC MMK's Charter, to propose to the Extraordinary General Meeting of shareholders of PJSC MMK to set the end of the business day on January 13, 2022 as the date, on which the persons entitled to receive the dividends on the placed ordinary shares of PJSC MMK for the performance results for nine months of 2021 reporting year, are to be determined.

V. F. Rashnikov,

Chairman of the Board of Directors of MMK PJSC

Disclaimer

OAO MMK - Magnitogorskiy Metallurgicheskiy Kombinat published this content on 03 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 December 2021 04:51:04 UTC.


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Financials (USD)
Sales 2021 11 547 M - -
Net income 2021 3 069 M - -
Net cash 2021 591 M - -
P/E ratio 2021 2,77x
Yield 2021 22,5%
Capitalization 9 036 M 9 069 M -
EV / Sales 2021 0,73x
EV / Sales 2022 0,83x
Nbr of Employees 17 887
Free-Float 18,7%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 0,81 $
Average target price 1,16 $
Spread / Average Target 42,9%
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Managers and Directors
Pavel Vladimirovich Shilyaev Chief Executive Officer & Director
Maria V. Nikulina Head-Finance Resources
Victor Filippovich Rashnikov Chairman
Vadim N. Feoktistov Chief Information Technology Specialist
Valeriy Yaroslavovich Martsinovich Independent Director
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