23 Apr 2010 13:13

Zyuzin company pledges another 2.4% of shares in Mechel, 25.67% in total

MOSCOW. April 23 (Interfax) - Cyprus-registered Calridge Limited, which represents the interests of Igor Zyuzin, the general director and chief beneficiary of the Mechel coal and steel group, has pledged another 2.4% of Mechel shares.

The company did not disclose to whom the shares were pledged and what Mechel received in return. Company spokesmen declined to comment.

Zyuzin controls 66.76% of Mechel shares. It owns some shares outright and others indirectly via a number of limited liability companies: Metkhol, Calridge, Dalewave, Bellasis, Actiondeal and Armolink.

The number of pledged shares held on the books of Dalewave, Bellasis, Actiondeal and Armolink amounted to 23.24% of equity as of April 22, the same as on March 17, according to Mechel materials. The 2.4% (10 million shares) pledged by Calridge means that a total of 25.67% of Mechel shares are currently pledged.

It was reported earlier that 7.82% of shares (held by Dalewave) are pledged to Raiffeisen Zentralbank Osterreich, 10.46% (Bellasis) to VTB and 0.66% (Armolink) to Uralsib. The locations of the other pledged shares have not been disclosed.

Mechel has consolidated controlling stakes in coal and steel companies and a number of ports. The free float is around 25%.