23rd May 2008 15:30
NLMK makes mandatory offer to minority shareholders of its Russian subsidiaries
Novolipetsk Steel (LSE: NLMK), a leading Russian steel producer, announced that it has initiated a mandatory offer to purchase the outstanding share capital of its subsidiaries - Stagdok, Dolomite and Altai-koks. The offer is made in accordance with Russian legislation and will enable NLMK to more efficiently manage these subsidiaries.
The terms and conditions of the mandatory offer to the minority shareholders of Stagdok, Dolomite and Altai-koks are as follows:
1. The price has been set based on the opinion of the American Appraisal (AAP) and confirmed by the All-Russian public organization the "Russian Society of Appraisers" by means of an independent valuation report exercise.
According to the mandatory offer, the price per share of Stagdok is RUR3,981.56, the price per share of Altai-koks is RUR15.14 and the price per share of Dolomite is RUR913.26.
2. The list of the minority shareholders of the entities mentioned above will be prepared as at July 7, 2008. The shareholders' claims will be considered valid if it is submitted to NLMK's agent, CJSC Investment Company "Libra Capital", no later than July 7, 2008.
For more information, please visit our web-site: www.nlmksteel.com
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NLMK |
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Boris Krasnojenov |
+7 495 915 1575 |
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Financial Dynamics |
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Jon Simmons |
+44 207 831 3113 |
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