TMK Announces Board of Directors Decisions
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.
*As of December 12, 2014, the Russian Central Bank exchange rate stood at 54.7932 RUB/USD.
Prospectus and Decision on additional share issue of 56 million new ordinary shares were registered by the Central Bank of the Russian Federation on 18 September 2014 and are disclosed at tmk_prospect0914.pdf and tmk_decision0914.pdf.