Mechel And UFG Announce the Sale of Mechel’s Shareholding in Magnitogorsk Iron & Steel Works OJSC to a Consortium of Investors
Moscow, Russia - December 21, 2004 – Mechel (NYSE: MTL) and U.F.G.I.S. Trading Ltd., a company of the UFG Group (“UFG”), acting for a consortium of investors, today concluded an agreement for the sale by Mechel of its entire shareholding in Magnitogorsk Iron & Steel Works OJSC (“MMK”) to the consortium for $780 million. Mechel and UFG also signed a mutual release agreement in which all potential claims between Mechel, on one hand, and MMK and its other shareholders, on the other, are waived in return for a payment of $90 million to Mechel. In accordance with the terms of the agreement, full payment in the amount of $870 million was made and the transfer of shares completed today.
Moscow, Russia – December 21, 2004 – Mechel (NYSE: MTL) announces results of an Extraordinary General Shareholders' Meeting held on December 20, 2004.
Moscow, Russia – December 24, 2004 – Mechel (NYSE: MTL) announces results of the Extraordinary General Shareholders' Meeting.
Moscow, Russia - December 9, 2004 - Mechel Steel Group (NYSE: MTL) announces a conference call, organized by Brunswick UBS, with senior management of the company who will speak on the situation regarding the latest developments.
Moscow, Russia - December 8, 2004 - Mechel Steel Group (NYSE: MTL) issued the following statement today regarding the requests for information that it has received from the Ministry of Internal Affairs:
Mechel Steel Group (NYSE: MTL) announces that a subdivision of the Ministry of Internal Affairs collected commercial information from its subsidiary, Mechel Trading House on December 6 and 7, 2004.
Kemerovo, Russia – December 2, 2004 – Southern Kuzbass Coal Company, a subsidiary of Mechel , has won two auctions for the right to use subsoil plots for coking coal exploration and mining at the Raspadsky Open Pit Mine and Berezovsky-2 areas, with total reserves of 55.5 million tons according to Russian reserve valuation standards . In total, Mechel has increased its reserves of coking coal by over 120 million tons in the last month.
Mechel Announces The Exercise Of The Greenshoe Option Related To Its IPO On The New York Stock Exchange
Moscow, Russia – November 29, 2004 – Mechel (NYSE: MTL), a Russian metals and mining company, announced today that the global coordinator for its IPO has fully exercised its option to place an additional 2,081,354 American Depositary Shares (ADS), representing 6,244,062 ordinary shares, at the price of the IPO of $21.00 per one ADS.
Moscow, Russia – November 25, 2004 – Mechel Steel Group OAO, a Russian metals and mining company, announces the placement of its first bond issue on MICEX. The coupon rate of the issue is 10.69%. According to the results of the first day of allocation, the total bond issue of Mechel was fully placed.
Mechel announces that the Federal Service for the Financial Markets has registered its report on additional securities issue issued for its IPO on the NYSE
Moscow, Russia – November 19, 2004 – Mechel, a Russian metals and mining company, announced today that the Federal Service for the Financial Markets of the Russian Federation has registered its report on the results of an additional issue of securities. The additional shares underlie American Depositary Shares, placed on the New York Stock Exchange in the form of 3rd Level American Depositary Receipts on October 29, 2004.