Severstal & NORDGOLD planning a COUPI found this today. It basically says, Severstal Directors (MORDASHOV) can do what ever he wants and not disclose material transactions to the Board. Meaning he can buy shares and them sell them to Severstal and not disclose he did trading, and pocket the proceeds without anyone knowing. Based on strange changes to NORDGOLF and SEVERSTAL they are going to go for the gold. Thoughts?
Approve the transaction of interest. For approval of the transaction, in which there is interest, the Board of Directors of JSC "Severstal" has decided to transactions not disclose or provide information about the conditions of transactions, as well as individuals who are parties to them beneficially.
CJ
Statement of material fact "about the decisions taken by the Board of Directors of the issuer"
07/09/2012
1. Overview
1.1. The full name of the issuer Open Joint Stock Company "Severstal"
1.2. Abbreviated name of the Issuer JSC "Severstal"
1.3. The issuer's 162608, Russia, Vologda, Cherepovets, Mira Street 30
1.4. BIN issuer 1023501236901
1.5. Issuer 3528000597
1.6. A unique code assigned by the registration authority 00143-A
1.7. Web-site used for information disclosure https://www.severstal.com
https://www.e-disclosure.ru/portal/company.aspx?id=30
2. Content of the message
The quorum of the board meeting of the issuer: the total number of board members - 10 people, took part in the vote - 10 people. The quorum for a meeting and a decision on the agenda was present.
The voting results and content of decisions made by the Board of Directors of the issuer:
1. 1. Voting results: decision is taken by a majority vote of the independent members of the Board of Directors, are not interested in the transactions.
The decision:
Approve the transaction of interest. For approval of the transaction, in which there is interest, the Board of Directors of JSC "Severstal" has decided to transactions not disclose or provide information about the conditions of transactions, as well as individuals who are parties to them beneficially.
2. Voting results: decision is taken by a majority vote of the independent members of the Board of Directors, are not interested in the transactions.
Action taken: In the manner provided by Article 77 of the Federal Law of 26.12.1995. ? 208-FZ "On Joint Stock Companies" (as amended), to determine the price of disposed or acquired property (services) for transactions in which there is an interested party approval for one item on the agenda with estimated cash value is market.
Date of meeting of the Board of Directors, which approved: September 7, 2012
Date of the meeting of the Board of Directors, which approved: 09/07/2012, the protocol number ? 32-2012.
3. Signature
3.1. Corporate Secretary of JSC "Severstal"
acting under a power of attorney
From 29.07.2010 ? sst-20-9/1742 O. Flowers
3.2. The date "07" September 2012