NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA,
JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO
SO. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS
DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7
OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF
UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT,
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
SALE OF 167,614,950 EXISTING ORDINARY SHARES IN
MAGNITOGORSK IRON & STEEL WORKS (MMK)
Iron & Steel Works (MMK) (the "Company"; Moscow
Exchange ticker: MAGN) announces that Mintha Holding Limited
("Mintha"), whose ultimate beneficiary is Mr. V. Rashnikov,
has sold 167,614,950 ordinary shares (the "Resale Shares")
in the Company, representing 1.5% of the issued ordinary share
capital of the Company (the "Sale"). The Resale Shares were
sold to Goldman Sachs International for resale to investors (the
The ownership interest of Mintha in
the Company's issued ordinary share capital prior to the Sale and
after giving effect to the Sale is 81.26% and 79.76%, respectively,
of the issued share capital of the Company. Prior to the Resale, the
free float of the Company is 18.74%. After completion of the Resale,
assuming all Resale Shares are sold, the free float of the Company
will be 20.24%.
The remaining ordinary shares in the
capital of the Company held by Mintha will be subject to a lock-up
for the period ending 60 days after 23 September 2021, save for
customary exceptions and waiver by Goldman Sachs International.
Goldman Sachs International is acting as sole bookrunner
on the Resale.
The Company will not receive any proceeds
fr om the Sale and/or the Resale.
The Resale Shares, in
all respects, rank pari passu with the Company's ordinary shares.
Investor Relations Department:
phone: +7 (915) 380-62-66
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