Change time

Norilsk Nickel will reduce the share capital of

Management MMC Norilsk Nickel considered it expedient to reduce the share capital of the organization. This issue was discussed at the July board of directors, where he was a positive decision. Now for the management plans will require the implementation of formal approval of shareholders of MMC, but the main owners of the company's securities have already declared their solidarity with the decision of the control composition.

Decrease in share capital Norilsk Nickel will provide for repayment of the company's shares on the balance sheet of subsidiaries. In particular, the organization's board of directors decided to liquidate the Norilsk Nickel Investments Ltd. — «Daughter», carried out in the autumn of last year repurchase securities of MMC procedure. Also, meeting participants considered the possibility of cancellation of the second subsidiary of Norilsk Nickel — Corbiere Holdings. But in view of ongoing trials of this organization with one of the major shareholders of MMC, the final decision to close was made only in respect of Norilsk Nickel Investments.

According to previously announced plans to guide the metallurgical company, its authorized capital stock (190.6 million. Ruble shares) will be reduced by 10%. «If the procedure will take place without complications, we will have time to implement the program before the end of this year» — commented the representatives of Norilsk Nickel.

See all news