ZapSib announces conversion of preferred shares
Evraz Group S.A. (LSE: EVR), one of the leading vertically integrated steel production and mining businesses with operations mainly in Russia, announces that at yesterday’s Extraordinary General Meeting (“EGM”) of OAO West Siberian Iron and Steel Plant (“ZapSib” or “Company”), its shareholders adopted resolutions to changes in the Company’s Statutes relating to the rights of type A preferred shares with a par value of 10 rubles (“preferred shares”).
The following changes relate to all 604 826 type A preferred shares currently in issue:
- Type A prefered shares will be converted into convertible preferred shares with a par value of 10 rubles (“convertible preferred shares”). Each type A preferred share will be converted into one convertible preferred share. Holders of type A preferred shares, who did not vote or voted against the adopted resolution to changes in ZapSib’s Statutes relating to the rights of shareholders, can request ZapSib to buy out all or part of their holding of type A preferred shares at the prevailing market price during a period of 45 days from the date of adoption of the resolution to changes in the Company’s Statutes.
- Newly issued convertible preferred shares will be converted into ordinary shares of ZapSib on the seventh working day from the date of registration of the newly issued convertible preferred shares, with the Federal Financial Markets Service. Each convertible preferred share will be converted into one ordinary share.
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