OREANDA-NEWS. August 18, 2014. NLMK’s Meeting of the Board of Directors, held on August 13, 2014, resolved to convene an Extraordinary General Meeting of Shareholders (EGM) in the form of absentee voting.

The deadline for the receipt of voting ballots (the date of the EGM in the form of absentee voting) was fixed at September 30, 2014. According to the EGM agenda, approved by the Board of Directors, Shareholders will vote on the payment (declaration) of dividends for H1 2014 on NLMK ordinary shares.

The list of persons entitled to participate at the EGM will be prepared on the basis of the NLMK Ordinary Shareholder Register as of August 24, 2014.

H1 2014 dividend recommendation

NLMK Board of Directors recommended that the General Shareholders' Meeting approve dividends for H1 2014 on ordinary issued shares in the amount of RUB 0.88 in cash per one ordinary share. The Board of Directors also recommended to set the date on which shareholders entitled to the dividends will be determined: 11 October 2014.

The total dividend payout will amount to USD 150 million, or 45% of NLMK US GAAP consolidated net profit for H1 2014.

Decisions on Group business activities

As part of the Group’s business activities, NLMK Board of Directors approved the maximum remuneration to be paid to ZAO PricewaterhouseCoopers Audit for conducting an audit (review) of the Company’s consolidated financial statements in accordance with US Generally Accepted Accounting Principles (US GAAP), and Russian Accounting Standards (RAS) statements. NLMK Board of Directors also approved several related-party transactions.