Rus News Journal

Shareholders of mine Raspadsky have refused dividends

Today at general meeting of shareholders of Open Society Raspadsky the decision not to pay dividends was accepted following the results of company activity in 2009. Thus,   position Corber Enterprises Ltd, the basic shareholder (it posesses almost 80 percent of shares Raspadsky ) Sounded last week, has been unanimously supported by the others.

According to the general director of Joint-Stock Company the Raspadsky coal company Gennady Kozovogo, such decision is caused   the several reasons. But all of them are connected with the tragedy which has occurred in the night from 8 for May, 9th.

- Failure on mine Raspadsky has led to death of the people, to essential destructions and necessity of a considerable recovery work, - Kozovoj has told. - the Present situation demands adequate actions of proprietors of the enterprise. The decision which was accepted by shareholders, is dictated not only industrial necessity, but caused also by ethical reasons. Once again I present deep condolences to families of victims and victims. Nobody will be disregarded, all social and financial obligations of the company will be executed in due time and in a priority order.

As to size of dividends which shareholders in April the board of directors recommended to confirm payment at a rate of 5 roubles on the action have refused. It approximately 50 percent of profit on the international standards of the financial reporting for 2009. The profit in 2009 - m has made 117 million dollars. That is, in 4,5 times it is less, than in 2008 following the results of which the company paid dividends on the action from calculation of 25 percent of profit on MSFO (taking into account intermediate dividends).

the Inquiry

In Open Society Raspadsky 12 enterprises of the Kemerovo region enter: two mines, a cut, under construction mine, concentrating factory, the enterprises of a transport and industrial infrastructure. The company delivers coal production to the largest metallurgical industrial complexes and koksohimicheskim to factories of Russia, Ukraine, the Eastern Europe and Asia. In 2009 in comparison with 2008 - m Raspadsky Has increased coal mining volume by 12 percent.

the Management company Raspadsky and its enterprises - Joint-Stock Company the Raspadsky coal company . The basic share holding supervises Corber Enterprises Ltd which on an equal footing own Evraz Group and a top - managers Raspadsky .