Results of EGM 7 May 2008On 7 May 2008 OJSC OMZ (Uralmash-Izhora Group) (OMZ) held an extraordinary shareholders’ meeting (EGM). Shareholders of record as of 20 March 2008 participated in the EGM. Shareholders voted on and approved the following items on the agenda: 1. Approval of a major transaction (several interconnected transactions) by OJSC OMZ, whose total amount is more than 25% but less than 50% of the book value of the Company’s assets and which at the same time is an interested-party transaction, relating to OMZ’s bond placement. 2. Approval of a major transaction (several interconnected transactions) by OJSC OMZ, whose total amount is more than 25% but less than 50% of the book value of the Company’s assets, which at the same time is an interested party transaction and which may be made in the future, during the process of OMZ’s bond placement. Both transactions relate to OMZ’s planned 5 year 1.6 billion ruble bond placement, the proceeds of which OMZ intends to use to finance its capex, modernization and upgrade programs as well as for general business development purposes. For further information please contact Marina Nacheva, Head of Investor Relations, on (+7495) 662 1040, ext. 1494 or by e-mail at m.nacheva@omzglobal.com |