15th Jan 2008 10:02
OAO TMK15 January 2008 -------------------------------------------------------------------------------- January 15, 2008 PRESS RELEASE Result of EGM TMK, one of the world's largest oil and gas pipe producers and the market leaderof the Russian pipe industry, today announces that its shareholders dulyapproved all the resolutions proposed at the Extraordinary General Meeting ofShareholders (EGM), which took place on December 25th, 2007, in the form of apostal vote. The following were approved by shareholders: - Decision to approve interim dividends, for the first 9 months of 2007, of RUR3.63 per share (approximately USD* 0.60 per GDR). A total of RUR 3,168,993,630(approximately USD* 130.0 mln.) will be paid out as dividend by February 24th2008. - Proposal to amend the Regulations on the Management Board. - Decision to approve transactions regarding loan agreements between OAO "TMK"and its subsidiaries, associated with the financing of TMK's StrategicInvestment Programme and the restructuring of the company's credit portfolio andof its subsidiaries. Approval of OAO "TMK"'s guarantees for its subsidiary,Seversky Tube Works (STZ), with respect to a loan from France's Societe Generaleto partially finance the acquisition of a Fine Quality Mill (FQM) from theDanieli Corporation (Italy). *As of January 15, 2008, the Russian Central Bank exchange rate stood at 24.2913RUR/USD. OAO "TMK" (www.tmk-group.com) Founded in 2001, TMK (LSE: TMKS) is the largest pipe producer in Russia and oneof the three global market leaders. In 2006, TMK sold approximately 3 million tonnes of pipes. TMK supplies tocompanies in more than 60 countries. TMK production facilities are located in Russia and Romania: • Volzhsky Pipe Plant; • Seversky Tube Works; • Taganrog Metallurgical Works; • Sinarsky Pipe Plant; • Orsky Machine Building Plant; • Truboplast pipe coating company; • SC TMK-ARTROM SA; • SC TMK-Resita SA. For further information please contact: TMK PR Department: Sergey Ilin Tel: +7 495 775 7600 ext. 2149 Email: [email protected] Or visit: www.tmk-group.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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