MOSCOW, May 5 /PRNewswire-FirstCall/ -- Mechel OAO (NYSE: MTL), one of theleading Russian mining and metals companies, announces that its ExtraordinaryShareholders' Meeting was held on April 30, 2008.
At the meeting, the shareholders adopted a resolution on the declaredpreferred registered book-entry shares of Mechel OAO, which are 138,756,915shares with the nominal value of RUR10.00 each share for a total ofRUR1,387,569,150.00, which the Company may potentially issue.
The shareholders also approved modifications and additions into theCharter of Mechel OAO connected with introducing provisions into the Charterconcerning declared preferred shares and rights these shares entitle theirowners.
The preferred registered book-entry shares entitle their owners to therights provided for in Article 11 of the Company's Charter with respect to allmodifications into the Charter approved at the meeting.
Mechel is one of the leading Russian companies. Its business includesthree segments: mining, steel, and power. Mechel unites producers of coal,iron ore concentrate, nickel, steel, rolled products, hardware, heat andelectric power. Mechel products are marketed domestically and internationally.
Some of the information in this press release may contain projections orother forward-looking statements regarding future events or the futurefinancial performance of Mechel, as defined in the safe harbor provisions ofthe U.S. Private Securities Litigation Reform Act of 1995. We wish to cautionyou that these statements are only predictions and that actual events orresults may differ materially. We do not intend to update these statements. Werefer you to the documents Mechel files from time to time with the U.S.Securities and Exchange Commission, including our Form 20-F. These documentscontain and identify important factors, including those contained in thesection captioned 'Risk Factors' and 'Cautionary Note RegardingForward-Looking Statements' in our Form 20-F, that could cause the actualresults to differ materially from those contained in our projections orforward-looking statements, including, among others, the achievement ofanticipated levels of profitability, growth, cost and synergy of our recentacquisitions, the impact of competitive pricing, the ability to obtainnecessary regulatory approvals and licenses, the impact of developments in theRussian economic, political and legal environment, volatility in stock marketsor in the price of our shares or ADRs, financial risk management and theimpact of general business and global economic conditions.
SOURCE Mechel OAO
