The Board of Directors of MMC Norilsk Nickel calls Extraordinary General Meeting to vote on the spin off of gold mining assets.
At the meeting on August 11th, 2005, the Board of Directors of MMC Norilsk Nickel made unanimous decision to call an extraordinary general meeting of Norilsk shareholders to be held on September 30th, 2005, to vote on the reorganization of the Company.
The reorganization of the Company involves a spin off by MMC Norilsk Nickel of all of the shares of ZAO "Polyus" together with a cash contribution in the amount of 10 billion rubles to a newly formed OJSC "Polyus Gold" established by Norilsk and the issuance of shares in Polyus Gold to the shareholders of MMC Norilsk Nickel on proportional basis.
The Board of Directors defined 11th of August 2005 as the record date for an extraordinary general meeting of Norilsk shareholders to vote on the reorganization of the Company and recommended to the shareholders to approve the transaction.
The reorganization of the Company involves a spin off by MMC Norilsk Nickel of all of the shares of ZAO "Polyus" together with a cash contribution in the amount of 10 billion rubles to a newly formed OJSC "Polyus Gold" established by Norilsk and the issuance of shares in Polyus Gold to the shareholders of MMC Norilsk Nickel on proportional basis.
The Board of Directors defined 11th of August 2005 as the record date for an extraordinary general meeting of Norilsk shareholders to vote on the reorganization of the Company and recommended to the shareholders to approve the transaction.