27th Jun 2008 12:47
June 27, 2008 PRESS RELEASE
OAO «TMK» Annual General Meeting of Shareholders
OAO «TMK» (TMK) announces that the Annual General Meeting of Shareholders of the Company was held in Moscow on June 27, 2008.
The AGM approved a 2007 dividend of 1.03 RUR per TMK share (about 0.17 USD per 1 GDR*, 1 GDR = 4 shares). A total of RUR 899,191,030.00 (around USD 37.7 million) shall be paid out as dividend by August 26th 2008.
In December 2007, TMK's shareholders approved interim dividends, for the first 9 months of 2007, of RUB 3.63 per share (approximately USD 0.58 per GDR), for a total RUB 3,168,993,630 (approximately USD 128 mln. at the exchange rate of the announcement date).
Shareholders approved the annual report and financial statements for the 2007 financial year as well as elected the Board of Directors and the Audit Committee. OOO «Ernst&Young» was approved to be OAO «TMK» auditor.
The AGM agreed that the Board of Directors shall continue to be comprised of ten members, including four independent directors. Andrey Kaplunov, Adrian Cobb, Josef Marous, Sergey Papin, Dmitriy Pumpyanskiy, Geoffrey Townsend, Igor Khmelevsky, Alexander Shiryaev, Alexander Shokhin and Mukhadin Eskindarov were elected to the Board of Directors. At the Board meeting held following the AGM, Dmitriy Pumpyanskiy was re-elected as Chairman of the Board of Directors of OAO «TMK».
OAO «TMK»'s 2007 Annual Report for the year ended December 31 2007 will be published and available within a week.
The 2007 Annual Report will be accessible online on TMK's website; http://www.www.tmk-group.com/AnReports.php and will be available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:
Financial Services Authority
25 North Colonnade
Canary Wharf
London
E14 5HS
*calculated according to the exchange rate of 23,8521 RUR per 1 USD set by the Central Bank of the Russian Federation as of May 15, 2008 (dividend cut-off date).
ТМК (www.tmk-group.com)
Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and one of the three global market leaders.
In 2007, TMK shipped over 3 million tonnes of pipes. TMK supplies to companies in more than 60 countries.
TMK production facilities are located in Russia, the United States, Romania, and Kazakhstan:
Volzhsky Pipe Plant;
Seversky Tube Works;
Taganrog Metallurgical Works;
Sinarsky Pipe Plant;
TMK IPSCO;
TMK-Resita;
TMK-Artrom;
TMK-Kaztrubprom;
TMK Oilfield Services;
TMK - Premium Service.
For further information please contact:
TMK PR Department TMK IR Department
Alexey Sotskov Alexei Ratnikov
Tel: +7 495 775 7600 ext. 2125 Tel: +7 495 775 7600 ext. 2078
Email: [email protected] Email: [email protected]
www.tmk-group.com
Related Shares:
TMKS.L