Mechel Reports Decisions of its Board of Directors
Moscow, Russia – June 2, 2023 – Mechel PAO (MOEX: MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 29, 2023.
The Board of Directors made the following recommendations to the general meeting of Mechel PAO’s shareholders:
- Not to liquidate the loss of 33,258,899.89 rubles received in 2022 and to leave it on Mechel PAO's balance sheet;
- Not to pay dividends with respect to any of Mechel PAO’s shares.
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Mechel is an international mining and steel company. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.