Press Releases

Mechel Reports Creating Special Committee of Board of Directors

Moscow, Russia April 11, 2016 The Board of Directors of Mechel PAO (MICEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, decided to create a Special Committee of the Board.

The Board of Directors tasked the newly created Committee with examining the deals with lender banks that had been presented for approval to Mechel PAO’s extraordinary general shareholders’ meeting for the second time, employing an independent consultant to obtain a fairness opinion and prepare recommendations on the said deals to Mechel PAO’s general shareholders’ meeting on the basis of the said fairness opinion.

The Special Committee includes all of the company’s Board of Directors’ independent members:

  • Vladimir Korovkin, president of the Committee
  • Alexander Orischin, member of the Committee
  • Vladimir Gusev, member of the Committee
  • Alexander Kotsky, member of the Committee
  • Yuri Malyshev, member of the Committee.

Mechel PAO’s extraordinary general shareholders’ meeting will take place on May 26, 2016.


Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88


Mechel is an international mining and steel company which employs over 67,000 people. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.


Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.


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