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MINING AND METALLURGICAL COMPANY NORILSK NICKEL

(MNOD)
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Public Joint Stock Mining and Metallurgical Norilsk Nickel : Nornickel's shareholders approved reduction of the authorized capital of the Company

08/20/2021 | 09:04am EDT
Moscow, August 20, 2021 - MMCMining and Metallurgical CompanyPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel'Go to the glossaryGo to the glossaryNorilsk Nickel ( further 'NornickelPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossary' or 'the Company'), the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that its shareholders approved the reduction of the authorized capital of the Company by cancelling shares repurchased during the buyback programme.

On August 19, 2021, the Extraordinary meeting of shareholders adopted a resolution to reduce the authorized capital of MMC Norilsk Nickel by RUB 4,590,852 to RUB 153,654,624 by cancelling 4,590,852 repurchased ordinary shares of the Company with a par value of RUB 1.

In June 2021, the Company completed share buyback, having repurchased from shareholders 5,382,079 ordinary shares. Remaining repurchased shares in the amount of 791,227 are expected to be used for the employees incentive purposes

ABOUT THE COMPANY
MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The production units of Norilsk Nickel GroupPublic Joint Stock Company 'Mining and Metallurgical Company 'Norilsk Nickel' and its subsidiariesGo to the glossaryare located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRAmerican Depositary Receipt; a security representing partial ownership in deposited securities of a foreign company certified by receipts issued by a US depositary bankGo to the glossarys are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.

20 August 2021

Disclaimer

OJSC MMC Norilsk Nickel published this content on 20 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 August 2021 13:03:07 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 17 611 M - -
Net income 2021 7 398 M - -
Net Debt 2021 7 395 M - -
P/E ratio 2021 6,79x
Yield 2021 10,9%
Capitalization 49 849 M 49 849 M -
EV / Sales 2021 3,25x
EV / Sales 2022 3,17x
Nbr of Employees -
Free-Float 39,3%
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Mining and Metallurgical Company Norilsk Nickel Technical Analysis Chart | MNOD | US55315J1025 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 32,61 $
Average target price 36,41 $
Spread / Average Target 11,6%
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Managers and Directors
Vladimir Olegovich Potanin President & Chairman-Management Board
Sergey Gennadyevich Malyshev Chief Financial Officer & Senior Vice President
Gareth Peter Herbert Penny Independent Non-Executive Chairman
Sergey Stanislavovich Stepanov Operational Director & Senior Vice President
Sergey Borisovich Bratukhin Independent Director
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