MMC Norilsk Nickel information
Moscow, October 29, 2008 – Today OJSC MMC Norilsk Nickel (hereinafter - MMC Norilsk Nickel or the Company) has received execution documents evidencing that Arbitration Court of the Krasnoyarsk Region prohibited from performing the decision of the Board of Directors as of August 22, 2008 to buyback shares of MMC Norilsk Nickel.
Legal counsel to the Company is of the opinion that there is a basis to believe that such execution documents have not been properly served. The registrar of the Company, National Registry Company, has informed the Company today that it received analogous execution documents.
Under these circumstances the General Director Vladimir Strzhalkovsky made a decision to suspend any further action on the execution of contracts and payments to the shareholders in relation to the buyback of the Company's shares.
ABOUT MMC NORILSK NICKEL:
MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.
The key production units of the Company’s group in Russia are the Polar Division and OJSC Kola Mining and Metallurgical Company. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa. MMC Norilsk Nickel is the majority shareholder in Stillwater Mining Company, the largest producer of platinum group metals in North America, whose shares are traded on the New York Stock Exchange.
29.10.2008
