These cookies do not store any personal information.Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. A shareholder agreement signed by Russian mining giant Norilsk Nickel’s major owners eight years ago has become a relic of the past which the … However, the company has been hit by lower demand for commodities this year due to COVID-19, which led some of its peers to reduce dividends, and a big fuel spill at an Arctic power plant in late May. REUTERS/Sergei Karpukhin/File Photo The agreement gave shareholders additional tools to control Nornickel, including a veto for major stakeholders on certain deals and financial control, as well as installing Potanin as a managing partner. … 12PM–12:45PM MOSCOW (Reuters) - An eight-year-old shareholder agreement signed by Russian mining giant Norilsk Nickel's major owners has become a relic of the past which the $44 billion miner does not need, Vladimir Potanin, its largest shareholder, told Reuters. This category only includes cookies that ensures basic functionalities and security features of the website. Michigan 9th in COVID 19 Health Improvement, Says WalletHubHolland City Council Discusses Affordable Housing Tonight Potanin told Reuters in an emailed statement that these extra tools were not needed for Nornickel’s further development and modernisation, adding that business efficiency and corporate governance had improved since 2012. MOSCOW (Reuters) - An eight-year-old shareholder agreement signed by Russian mining giant Norilsk Nickel's major owners has become a relic of … The deal expires on Jan. 1, 2023, with a question over whether it will be extended or suspended after that date. Rusal, which bought the stake in Nornickel for $14 billion in 2008, last paid dividends in 2017 when it distributed $300 million to shareholders. “Today, the vision of Interros and Rusal regarding the principles of governance in Nornickel is fundamentally different,” Potanin said. August 10, 2020. The agreement gave Nornickel’s shareholders additional tools to control the company, including a veto for major stakeholders on certain deals and financial control, as well as installing Potanin as a managing partner. The move comes as Nornickel is responding to fallout from a massive Arctic fuel spill.MOSCOW — An eight-year-old shareholder agreement signed by Russian mining giant Norilsk Nickel’s major owners has become a relic of the past which the $44 billion miner does not need, Vladimir Potanin, its largest shareholder, told Reuters.Potanin’s Interros holding, aluminium producer Rusal and some other stakeholders “Maintaining this ‘superstructure’ will put even more pressure on Nornickel with the aim of extracting maximum dividends from it, regardless of the economic and social situation around the company,” Potanin said in his strongest public comment on the agreement.The deal expires on Jan. 1, 2023, with a question over whether it will be extended or suspended.“We believe that dividends should not be reduced, but left in Russia and should be directed towards the development of the Russian economy, as Rusal does, for example,” Rusal said in a statement.Rusal, which bought the stake in Nornickel for $14 billion in 2008, last paid dividends in 2017 when it distributed $300 million to shareholders.The agreement gave Nornickel’s shareholders additional tools to control the company, including a veto for major stakeholders on certain deals and financial control, as well as installing Potanin as a managing partner.Potanin told Reuters in an emailed statement that these extra tools were not needed for Nornickel’s further development and modernisation, adding that business efficiency and corporate governance had improved since 2012.He did not say whether he was ready to step away from his role as the managing partner.Nornickel’s market value has risen by 50 percent since 2012.However, the company has been hit by lower demand for commodities this year due to COVID-19, which led some of its peers to reduce dividends, and After the spill, Potanin, who owns a stake of 34.5 percent, proposed capping the company’s final 2020 dividend at $1 billion, while Rusal, which relies on dividends from its 27.8 percent stake in Nornickel, called for a management overhaul.“Today, the vision of Interros and Rusal regarding the principles of governance in Nornickel is fundamentally different,” Potanin said.Necessary cookies are absolutely essential for the website to function properly.
MMC Norilsk Nickel’s Dividend Policy aims to balance the interests of the Company and its shareholders, enhance the Company's investment case, boost its market cap, and protect shareholder rights. We noticed that your browser is blocking ads - please be aware that our station's live stream may also be disabled by adblockers. By Polina Devitt and Anastasia Lyrchikova. The 2019 annual report of PJSC “MMC Norilsk Nickel” incorporates the results of the Norilsk Nickel Group. It is mandatory to procure user consent prior to running these cookies on your website.This website uses cookies to improve your experience while you navigate through the website. These cookies will be stored in your browser only with your consent. The deal expires on Jan. 1, 2023, with a question over whether it will be extended or suspended. Nornickel’s market value has risen by 50% since 2012.
The authorised capital of MMC Norilsk Nickel stands at RUB 158,245,476 and comprises 158,245,476 ordinary shares with a par value of RUB 1 each.
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