Alexey Mordashov re -elected Director General of Severstal

Yesterday, June 13, 2103, a annual meeting of shareholders of Severstal OJSC was held on which a number of decisions were adopted regarding the enterprise management and dividends. This is stated in the message of Severstal.

According to the results of the meeting, the Board of Directors of Severstal OJSC was elected in the following composition: Alexey Mordashov, Mikhail Noskov, Alexander Golubman, Alexey Kulichenko, Sergey Kuznetsov, Christopher Clark, Rolf Stomberg, Martin Engl, Ronald Freeman, Peter Krasilich. At the same time, the powers of Alexei Mordashov as the general director of the company were extended for another three years.

The shareholders of the largest metallurgical and mining company of the Russian Federation of Severstal OJSC decided to pay final dividends for 2012 and for the first quarter of 2013, sending about 21 million US dollars for these purposes.

The final dividends for 2012 were at 0.06 dollars per share. Given the previously paid intermediate dividends for 2012, the total amount of payments to shareholders amounted to almost $ 10 million, which is about 40 percent of the company's net profit for 2012 in IFRS.

According to the results of the company in the first quarter of 2013, the meeting of shareholders decided to pay more than $ 11 million or 0.01 dollars per share in the form of dividends.

81.8 percent of the shares of Severstal OJSC is in direct and indirect possession Alexei Mordashov. Thus, the Director General of Sevrestli will receive more than $ 17 million following the collection of shareholders.

Severstal OJSC is one of the world's largest vertically integrated steel and mining companies with assets in Russia and the USA, as well as in Ukraine, in Latvia, Poland, Italy, liberia and Brazil. The company's shares are quoted at the Russian trading platform of the MICEC-TRTS, global depository receipts are presented on the London Stock Exchange. In 2012, the company's revenue amounted to $ 14 billion, EBITDA reached $ 2 billion. In 2012, 15 million 100 thousand tons of steel were produced by the company.