PJSC Magnitogorsk Iron and Steel Works: MMK notifies about changes in the Board of Directors
PJSC Magnitogorsk Iron and Steel Works (MMK)
PJSC Magnitogorsk Iron and Steel Works: MMK notifies about changes in the Board of Directors
24-March-2022 / 06:45 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
MMK notifies about changes in the board OF DIRECTORS
24 march 2022
Magnitogorsk, Russia
PJSC Magnitogorsk Iron & Steel Works ("MMK", "the Group") (MOEX: MAGN; LSE: MMK) notifies that Valery Martsinovich, Tav Morgan and Olga Rashnikova resigned from MMK's Board of Directors in compliance with their applications.
The Group notifies that it has the obligatory quorum for holding Board meetings and making decisions stipulated by MMK's Charter. The tenures of the other members of the Board are valid, and the composition of the new Board of Directors will be considered at the Annual General Meeting of Shareholders.
About MMK
PJSC Magnitogorsk Iron and Steel Works (MMK Group, MMK) is a Russian iron and steel company. The Group's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK manufacturesa broad range of steel products, with a predominant share of premium products. In 2021, MMK produced 13.6 mln tonnes of crude steel and sold 12.5 mln tonnes of commercial steel products.
Group revenue in 2021 totalled USD 11,869 mln, with an EBITDA of USD 4,290 mln. MMK boasts the industry's lowest debt burden. Net debt/EBITDA ratio was -0.09х at the end of 2021.
MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 20.2%.
Subscribe to our official MMK channel in Telegram, to be the first to know about key MMK news.
Investor Relations Department
Veronika Kryachko
+7 (915) 380-62-66
kryachko.vs@mmk.ru
ESG DEPARTMENT
Yaroslava Vrubel
+7 982 282 9682
vrubel.ys@mmk.ru
Communications Department
Dmitriy Kuchumov
+7 (499) 238-26-13
kuchumov.do@mmk.ru
KEY UPCOMING EVENTS IN 2022
13 April
Q1 2022 Trading Update
19 April
Q1 2022 IFRS financials
ISIN: US5591892048 Category Code: BOA TIDM: MMK LEI Code: 253400XSJ4C01YMCXG44 Sequence No.: 151105 EQS News ID: 1310367
End of Announcement EQS News Service