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Chelyabinsk Zinc Plant will invest the profit in the company's development

14 May 2013

The Board of Directors of Chelyabinsk Zinc Plant (JSC «CZP») plans to invest last year's profit of enterprise development. It is for the company's management decision recommends that the shareholders vote at the annual general meeting to be held with the participation of holders of securities at the end of next month. If the participants of the event will be the plan, shareholders will not receive dividends — the entire volume of finance, the company earned in 2012 will (in accordance with the program approved by the Council) on the investment projects of the organization.

Earlier it was reported that last year, according to company reports financiers, factory profit (after tax) amounted to 529 million. Russian rubles, which is 49% less than in 2011 and 62.6% below the level of earnings in the 2010th .

In addition to issues of income distribution, at the forthcoming Annual General Meeting of shareholders of «CZP» the company's management plans to approve the new composition of the Board of Directors (which are running 8 candidates, 7 of which — acting director of the zinc plant), to elect members of the Audit Committee of the Company, agree on a list of independent auditors of the company and to approve the financial statements of the past year.

OJSC «Chelyabinsk Zinc Plant» — the largest operator of the Russian market of non-ferrous metals, which accounts for more than half of all zinc produced in the country (capacity of the enterprise designed to produce 200 tonnes of Zn per year.). In addition, the plant supplies the intermediate products market — cadmium and indium, and also produces zinc sulfate and sulfuric acid. zinc plant authorized fund amount to 54.195 thousand. ordinary registered shares with par value of 1 ruble. The control package of assets (58% of the portfolio) is owned by the Netherlands — holding «NF Holdings BV», securities which, in turn, is owned by «Russian Copper Company» (Russian Copper Company) and «UMMC» (Ural Mining and Metallurgical Company). The rest of the shares of «CZP» (42%) are in free float. According to the beginning of last year, the company's capitalization amounted to 119.546 million. USD.

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