Moscow, Russia – December 8, 2022 – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports that it has been notified by the New York Stock Exchange that it has determined to commence proceedings to delist the ADRs representing the company’s common and preferred shares.

The New York Stock Exchange (NYSE) notified the company that it has determined to commence proceedings to delist the two securities of Mechel PAO — MTL ADR (each representing two common shares) and MTL PR ADR (each representing one-half of a preferred share) — from the NYSE. Trading in the company’s securities has been halted since February 28, 2022 and will now be suspended immediately.

NYSE has determined that the company’s securities are not suitable for listing pursuant to Section 802.01D of the NYSE Listed Company Manual in light of the announcements by Deutsche Bank, the depositary under the company’s ADR programs, of its intention to terminate the deposit agreements for the company’s securities effective as of December 7, 2022.

According to the NYSE’s notification letter, application to the Securities and Exchange Commission to delist the Company’s Securities is pending, subject to the completion of applicable procedures, including any appeal by the Company of NYSE Regulation’s decision. 

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