Rus News Journal

Shareholders Severstal have selected new board of directors

Today the general annual meeting of shareholders of Open Society " has taken place; Severstal on which the new structure of board of directors of the company has been selected.
It is informed that the chairman of board of directors Severstal Alexey Mordashov is re-elected, which else in 1996 has held a post of the general director of the company, and in 2002 for the first time has been selected by the chairman of board of directors of joint-stock company.
also at today`s meeting shareholders Severstal have confirmed the annual report and the accounting reporting of the company for 2005., new edition of the charter of a society, have selected new structure of a revision committee and have confirmed Joint-Stock Company KPMG the auditor of a society.
in the last some weeks Severstal it has appeared in the attention centre in connection with the announcement of possible merge to the Luxembourg manufacturer of steel Arcelor SA made on May, 26th. The situation becomes complicated that applies for actions Arcelor Mittal Steel Co., which expects to receive complete control over the company.
at the same time representatives Arcelor have already submitted the petition to the European commission about merge to Open Society Severstal . The Bruxelles officials have already promised to consider statement Arcelor till July, 11th. Thus they have stipulated that in case of detection of circumstances and the factors demanding additional studying, term of consideration of the petition can be increased according to corresponding statutory acts.
Open Society Severstal - headquarters plant of versatile holding Severstal - groups and its metallurgical battalion. Open Society net profit Severstal under the Russian standards of accounting (RSBU) in 2005. In comparison with 2004. Has decreased on 13,3 % - to 34 mlrd 312 million 080 thousand rbl. According to an estimation, market cost of own capital of Open Society Severstal now makes 6 mlrd 202 million 940 thousand dollars