The shareholders of PJSC TMK approved the transition to a single share as a result of the merger of eight key controlled companies with the parent company. This is stated in the TMK message.
The company plans to implement the transition to a single share as a result of the merger of eight controlled companies by December 31, 2025.
The price per TMK share will be 116.10 rubles, which corresponds to the weighted average price of TMK shares on the Moscow Stock Exchange for the six months preceding the date of the Board of Directors' decision to hold a shareholders' meeting.
Such shareholders will be able to submit their shares for repurchase within 45 days after the decision of the shareholders' meeting, that is, until September 15, 2025. The calculations will be completed within 30 days after the deadline for accepting claims, that is, until October 15, 2025.
Shareholders or participants of the affiliated companies will consider joining TMK on August 7, 2025. The shares of minority shareholders who agree to the proposed changes will be exchanged for shares of TMK.
For the exchange, the company will issue additional shares. To ensure the necessary flexibility, TMK will register additional emissions in a larger volume than required by the exchange. However, the actual volume of the additional issue, according to preliminary estimates, will not exceed 5% of the company's authorized capital. The shares not used in the exchange will be redeemed.
Owners of shares of the merged companies who do not agree to join TMK or do not participate in the general meetings will be able to submit their shares for repurchase. Conversion coefficients and purchase prices are calculated for each company on a market basis.
TMK is an industrial engineering company, supplier of pipe solutions, structural materials and related services. TMK shares are traded on the Moscow Stock Exchange.
