TMK, one
of the world’s leading oil and gas steel pipe producers, announces that the OAO
“TMK” Board of Directors has decided to convene an Annual General Meeting of
Shareholders (AGM) on June 26, 2012 in Moscow.
TMK’s
Board of Directors approved the following agenda for the
AGM:
-
amendments to the Company’s Charter;
- approval
of the annual report and financial statements, including profit and loss
statements;
-
distribution of the Company’s profit for the year 2011;
- election
of the Board of Directors;
- election
of the Revision Commission;
- approval
of the Company’s auditor;
- approval
of related party transactions.
TMK’s
Board of Directors has proposed to the Annual General Meeting of Shareholders amendments to the
Charter of TMK in order to increase the number of the Board members from ten
to eleven and nominated the following candidates: Dmitry Pumpyanskiy, Alexander
Shiryaev, Andrey Kaplunov, Sergey Papin, Igor Khmelevsky, Mikhail Alekseev,
Alexander Shokhin, Bob Foresman, Peter O'Brien, Ruben Aganbegyan, Oleg
Schegolev. The number of independent Board members is proposed to be increased
from 5 to 6.
TMK’s
Board of Directors has also recommended that the AGM adopt a resolution to pay
dividends for 2011 in the amount of RUB 2.70 per ordinary share of TMK stock.
Total dividends will amount to RUB 2,531,482,453.80 (approximately USD* 81.7
mln) and will be paid out by August 24th 2012.
*As of May 17, 2012, the
Russian Central Bank exchange rate stood at 30,9758
RUB/USD.
TMK is a leading global manufacturer and supplier of steel pipes for
the oil and gas industry, operating 24 production sites in the United States,
Russia, Romania and Kazakhstan and two R&D centres in Russia and the USA. In
2011, TMK’s pipe shipments totaled 4.23 million tonnes. The largest share of
TMK’s sales belongs to high margin oil country tubular goods (OCTG), shipped to
customers in 85 countries. TMK delivers its products along with an extensive
package of services in heat treating, protective coating, premium connections
threading, warehousing and pipe repairing.
TMK’s ordinary shares are listed on Russia’s major stock exchange –
MICEX-RTS. Its GDRs are traded on the London Stock Exchange, and its ADRs – on
the OTCQX International Premier trading platform in the U.S.
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