Update on transfer and cancellation of treasury shares
The Board of Directors of OAO Severstal ("Severstal", the "Company") (LSE:
SVST; MICEX-RTS: CHMF), one of the world's leading vertically integrated steel
and steel-related mining companies, has approved the finalization of the
programme for the transfer and cancellation of treasury shares as previously
announced on February 29, 2012. The programme resulted in the repurchase of 169
982 695 Severstal shares.
The Board also approved an amendment to the Company’s charter to reduce its
share capital through the cancellation of the aforementioned
169 982 695 shares. As a result, the total number of Severstal shares
outstanding will be 837 718 660.
Following the share capital reduction, the indirect holding of Alexey
Mordashov, CEO of Severstal, in the Company’s total outstanding shares will be
79.2% (including Treasury shares in total shares outstanding) and
81.8% (excluding Treasury shares from total shares outstanding).