TMK, one of the world’s leading oil and gas steel pipe producers, today announces that its Board of Directors decided on the offering price for additional share issue of 56 million new ordinary shares with a nominal value of RUB 10 per share. The offering price has been set up at the level of RUB 101.25 (approximately USD 1.85*) per share. The same offering price of RUB 101.25 per share has been set up for persons who have pre-emptive rights for this shares.
Today, in accordance with the applicable law and regulatory requirements, TMK published a notice inviting the shareholders to exercise their pre-emptive rights to purchase newly issued TMK shares. TMK posted the recommended application form for shareholders wishing to exercise their pre-emptive rights on the following pages of the Company's websites: www.tmk-group.ru and http://www.e-disclosure.ru/portal/company.aspx?id=274.