MMK Announces Business Name Change
Magnitogorsk Iron and Steel Works ("MMK" or "the Company") announces that in line with the resolution passed by the Annual General Meeting of Shareholders (AGM) of OJSC MMK, an entry in Unified State Register of Legal Entities was made regarding Open Joint Stock Company Magnitogorsk Iron and Steel Works on state registration of changes in the articles of association of a legal entity (new version of the Charter), which now include its new business name.
The change of the business name of Open Joint Stock Company Magnitogorsk Iron and Steel Works was made in order to bring the Company's Charter in line with the current legislation (Federal Law No. 99-FZ, "On Introduction of Changes to Chapter 4 of the First Part of the Civil Code of the Russian Federation and Invalidation of Certain Provisions of Legislation", dated 5 May 2014).
In line with the new version of the Charter, from 5 June 2017, the full business name of MMK in Russian is Публичное акционерное общество «Магнитогорский металлургический комбинат», and the abbreviated business name in Russian is ПАО «ММК»; the full business name in English is Public Joint Stock Company Magnitogorsk Iron & Steel Works, and the abbreviated business name in English is PJSC MMK.
The address, phone numbers, bank details and other corporate details (except for the business name) remain unchanged. The change of the business name does not require changes in documents of title and other documents containing the previous business name. Thus, powers of attorney that were earlier issued by OJSC MMK to its representatives remain in force until their respective expiration dates.
The new Charter of PJSC MMK with the new business name is available on the official website of the Company at http://eng.mmk.ru/corporate_governance/internal_documents/.
MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel-producing complex encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2016, the company produced 12.5 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 million.
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