30th Jun 2009 13:00
Moscow, June 30, 2009 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 30, 2009.
Shareholders approved the annual report and financial statements for the 2008 financial year as well as elected the Board of Directors and the Audit Commission. OOO «Ernst&Young» was approved to be OAO «TMK» auditor. Shareholders also voted against the payment of 2008 dividends.
The AGM agreed that the Board of Directors shall continue to be comprised of ten members, including five independent directors. Mukhadin Eskindarov, Andrey Kaplunov, Igor Khmelevsky, Josef Marous, Sergey Papin, Thomas R. Pickering, Dmitriy Pumpyanskiy, Geoffrey Townsend, Alexander Shiryaev and Alexander Shokhin were elected to the Board of Directors.
«The Company understands and respects the shareholders' decision not to pay 2008 dividends. In the current global financial environment, this decision supports TMK's financial strategy which is currently focused on restructuring and reducing the Company's debt level», said TMK CEO, Alexander Shiryaev.
TMK's 2008 Annual Report is accessible online at http://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 ColonnadeCanary Wharf
London
E14 5HS
TMK (LSE: TMKS) is the largest pipe producer in Russia and one of the three global market leaders.www.tmk-group.com
In 2008, TMK shipped over 3.2 million tonnes of pipes, supplying 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 Europe
TMK-Kaztrubprom
TMK Oilfield Services
TMK-Premium Service
For further information please contact:
TMK IR Department
Alexei Ratnikov
Tel: +7 495 775 7600 ext. 2078
Email: [email protected]
TMK PR Department
Alexey Sotskov
Tel: +7 495 775 7600 ext. 2125
Email: [email protected]
Related Shares:
TMKS.L