Raspadskaya to change one board member, to sell Rostelecom, Sberbank, Kamaz shares
MOSCOW. March 10 (Interfax) - The board of directors of OJSC Raspadskaya has approved candidates for the new board.
The company said in a statement that Olga Pokrovskaya, who is on the board of directors of Evraz and is director of corporate finance at Millhouse, became a new candidate for the board.
Jeffrey Townsend was not nominated to the board. The remaining candidates belong on the current board: Sergei Stepanov, CEO of the company; Gennady Kozovoy, former CEO of the company; Ilya Lifshits; Terry Robinson, chairman of the board; Alexander Frolov and Eric Hugh John Stoyell.
In addition, Raspadskaya's board of directors approved the disposal of shares belonging to the company of OJSC Rostelecom (8,445 shares); OJSC Sberbank (740,000 shares); OJSC Kamaz (2,600 shares). The shares were disposed of "with a purpose of optimizing the structure of financial investments and the exclusion of non-core operations."
Evraz owns 82% of shares in Raspadskaya via a wholly owned subsidiary, Corber Enterprises Limited. The rest of shares are in free float.
Evraz is a major vertically integrated metallurgical and mining company with assets in Russia, the United States, Italy, Czech Republic, Republic of South Africa, and Ukraine.
Roman Abramovich currently owns 31.31% of Evraz shares, Alexander Abramov - 21.81%, Frolov - 10.89%, Yevgeny Shvidler - 3.11%, Kozovoy - 5.56% and Alexander Vagin - 5.5%.
