Moscow, Russia – February 4, 2016 – Mechel OAO (MICEX:MTLR, NYSE: MTL), a leading Russian mining and metals company, reports that the company’s Board of Directors made the following recommendations for voting at Extraordinary General Shareholders’ Meeting scheduled for March 4, 2016.

In compliance with task appointed by the Board, Special Committee of independent directors commissioned an independent consultant — Renaissance Capital – Financial Consultant Ltd – to prepare a fairness opinion.

Based on the unanimous view of the Special Committee, which was worked out on the basis of the independent consultant’s expert opinion, the company’s Board of Directors recommended Mechel OAO’s extraordinary general shareholders’ meeting to approve the transactions of providing and changing suretyships and pledges provided by the company to the following lenders: Sberbank PJSC, Gazprombank (Joint Stock Company), VTB Bank (PJSC) and the syndicate of banks as transactions that meet Mechel OAO’s interests.

The Board of Directors also recommended Mechel OAO’s extraordinary general shareholders’ meeting to approve the new amended versions of the company charter, regulation on the General Shareholders Meeting of the company and regulation on the Board of Directors of the company.

The Board of Directors also recommended the following people as having requisite qualifications and experience to be elected Board members at the General Shareholders meeting:

1. Alexander N. Kotsky
2. Vladimir V.Gusev;
3. Yury N. Malyshev;
4. Igor V. Zyuzin;
5. Alexey G. Ivanushkin;
6. Vladimir Yu. Korovkin;
7. Alexander D. Orischin;
8. Oleg V. Korzhov;
9. Tigran G. Khachaturov.

Documents for EGM are available on Mechel’s website in Shareholders and Investors section: www.mechel.com/shareholders/corporate_governance/shareholders_meeting/
 

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Mechel OAO
Alexey Lukashov
Investor Relations Department
Phone: + 7 495 221 88 88
alexey.lukashov@mechel.com