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June 4, 2020

Mechel reports decisions of the Board of Directors

Moscow, Russia– June 4, 2020 – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports the decisions made by its Board of Directors at a meeting held on June 4, 2020.

Mechel PAO’s Board of Directors determined the repurchase price of Mechel PAO’s ordinary shares as based on the volume-weighted average price calculated according to the results of on-exchange trading over the six months prior to the date of the decision to hold the annual shareholder meeting, which will take place on June 30, 2020.

In case the company’s shareholders meeting approves the agenda item of the annual general shareholder meeting “On further approval and agreement to major deals which are also related-party transactions”, those shareholders who are holding Mechel PAO’s ordinary shares and have the right to demand share buyback, may exercise their right in accordance with Russia’s applicable legislation.

The list of shareholders that have the right to demand buyback of the shares they hold, is compiled based on the on the data in the list of those who have the right to take part in Mechel PAO’s annual general shareholder meeting scheduled for June 30, 2020, and which is compiled on June 5, 2020.

The repurchase price of Mechel PAO’s ordinary shares is set at 80 rubles 57 kopeks per share.

The Board of Directors also determined the order of exercising the right to demand share buyback for Mechel PAO’s shareholders.

The information regarding share buyback has been published on Mechel PAO’s website on the Shareholders’ Meeting page:
https://www.mechel.com/shareholders/corporate_governance/shareholders_meeting/

Mechel PAO’s shareholders may address the company’s corporate relations and property department for all questions regarding share buyback, by telephone (495) 221-88-88 or email mechel_osa@mechel.com

***

Mechel PAO
Ekaterina Videman
Tel: + 7 495 221 88 88
ekaterina.videman@mechel.com

 

 

 

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