Raspadskaya does not plan to pay dividends for 2022

AK&M 16 March 2023 14:43

The Board of Directors of Raspadskaya believes that the payment of dividends will not serve the best interests of the company and its shareholders. In order to provide the company with a reserve of liquidity in a period of instability, the Board of Directors decided not to recommend to the annual meeting of shareholders the payment of dividends based on the results of 2022. This is stated in the company's message.

The Annual Meeting of Shareholders will be held in the form of absentee voting. the deadline for receiving ballots is May 18, 2023. During the meeting, shareholders will also have to approve the annual report, appoint an auditor, and elect the board of directors.

PJSC Raspadskaya has been operating in the Kemerovo Region since 1973. The controlling shareholder is EVRAZ plc., which owns about 93.24% of the company's shares.

Until February 16, 2022, the group's joint ultimate controlling shareholders were three shareholders: Greenleas International Holdings Limited (British Virgin Islands), Abiglaze Limited (Cyprus) and Crosland Global Limited (Cyprus). One of the main shareholders of the group, Greenleas International Holdings Limited, which is controlled by Roman Abramovich, transferred all its shares in EVRAZ plc. to the direct ownership of R. Abramovich on February 16, 2022.

The revenue of PJSC Raspadskaya for the first half of 2022 amounted to 124.6 billion rubles, an increase of almost 2.5 times compared to the same period in 2021. 99% of the revenue of the company and its subsidiaries accounted for the sale of coking coal.