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SMP decided to pass dividends.

At the Solikamsky Magnesium Plant annual meeting May 12 the holders approved the non-payment of the 2013-dividends, the company informed.

Legion-Audit was affirmed as an auditor. Several interest-bearing deals were affirmed (Mart, Polyfer Handels GmbH. etc.).

The Plant (TIN 5919470019) was founded in 1936. It covers about 40% of the magnesium market in Russia. Besides, it is a producer of the rare metals, tantale and niobium.

The IQ 2013 net losses reached (RAS) 58.019mln rub. vs. 50.888mln rub. in profit prior year; revenues declined 16.35% to 961.131mln rub. from 1.149bn rub.; losses from sales coming to 38.172mln rub. vs. 149.943mln rub. in losses; pretax losses - 65.064mln rub. vs. 63.604mln rub. in profit.

The IQ 2014 net losses rallied up (RAS) 71.44% to 99.467mln rub. from 58.019mln rub.; revenues - 31.3% to 1.262bn rub. from 961.131mln rub.; losses from sales - 3.45 fold to 131.576mln rub. from 38.172mln rub.; pretax losses - 81.62% to 118.167mln rub. from 65.054mln rub.

"AK&M", 23.05.2014


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