Russian steel maker Magnitogorsk Iron & Steel Works has notified that Valery Martsinovich, Tav Morgan and Olga Rashnikova resigned from MMK's Board of Directors in compliance with their applications. The Group notifies that it has the obligatory quorum for holding Board meetings and making decisions stipulated by MMK's Charter. The tenures of the other members of the Board are valid, and the composition of the new Board of Directors will be considered at the Annual General Meeting of Shareholders. MMK is a Russian iron and steel company. The Group's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK manufactures a broad range of steel products, with a predominant share of premium products. In 2021, MMK produced 13.6 million tonnes of crude steel and sold 12.5 million tonnes of commercial steel products. Group revenue in 2021 totalled USD 11,869 million, with an EBITDA of USD 4,290 million.MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 20.2%.
Russian steel maker Magnitogorsk Iron & Steel Works has notified that Valery Martsinovich, Tav Morgan and Olga Rashnikova resigned from MMK's Board of Directors in compliance with their applications. The Group notifies that it has the obligatory quorum for holding Board meetings and making decisions stipulated by MMK's Charter. The tenures of the other members of the Board are valid, and the composition of the new Board of Directors will be considered at the Annual General Meeting of Shareholders. MMK is a Russian iron and steel company. The Group's operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK manufactures a broad range of steel products, with a predominant share of premium products. In 2021, MMK produced 13.6 million tonnes of crude steel and sold 12.5 million tonnes of commercial steel products. Group revenue in 2021 totalled USD 11,869 million, with an EBITDA of USD 4,290 million.MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts are traded on the London Stock Exchange. Free float amounts to 20.2%.
