Annual report 2007 - Magnitogorsk Iron & Steel Works ...

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138 Audit Committee Chairman of the Management Board Members of the Management Board The Company’s Governance Structure General Shareholders´ Meeting Board of Directors Auditor Chairman of the Board of Director Secretary of the Board Members of the Board of Director Management Board Secretary of the Management Board Individual Executive Body LLC MMK Managing Company
Information on Compliance with the Code of Corporate Behaviour (In accordance with the form specified in the guidelines for the composition and form of presenting information on compliance with the Code of Corporate Behaviour in annual reports of open joint stock companies, approved by Order #03-849/p of the Federal Commission for the Securities Market of the Russian Federation, dated 30.04.2003) # Provisions of the Code of Corporate Behaviour (CCB) General Shareholders’ Meeting 1. 2. 3. 4. ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS The shareholders should be notified of a general shareholders’ meeting not less than 30 days prior to the holding of the meeting, irrespective of the meeting’s agenda items, unless a longer period is provided for by the applicable law. The Shareholders should have an opportunity to review the List of persons entitled to participate in the general shareholders’ meeting starting from the day of notifying the shareholders of the meeting till the closing of the general shareholders’ meeting, if held in the form of personal attendance, or till the deadline for receipt of voting ballots, if a meeting is held in the form of absentee voting. The Shareholders should have access to the meeting-related information (materials) to be made available in the course of preparation for the general shareholders’ meeting, via telecommunication means, including the Internet. The Shareholders shall be entitled to propose items for the agenda of the general shareholders’ meeting or request that the general shareholders’ meeting be held, without providing an extract from the Shareholders’ register in case their share rights are registered with the Share Register system, and in case their share rights are registered on a Custody account, that a statement from the custody account be sufficient to exercise such rights. Observance of the CCB (yes or no) yes yes yes yes SEASON 2007 Remarks Paragraph 10.7 of the Charter of OJSC MMK approved by Resolution of the Annual General Shareholders’ Meeting, dated 21.04.2006;Paragraph 7 of Amendments to the charter of OJSC MMK approved by Resolution of the Annual General Shareholders’ Meeting, dated 30.03.2007 Paragraph 2.3 of the Regulations on the General Shareholders’ Meeting of OJSC MMK, approved by Resolution of the Annual General Shareholders’ Meeting, dated 21.04.2006 Paragraph 1.4 of the Regulations on the Information Policy of OJSC MMK, approved by Resolution of the Board of Directors of OJSC MMK, dated 29.11.2005 Paragraphs 10.10, 10.18 of the Charter of OJSC MMK, approved by Resolution of the Annual General Shareholders’ Meeting, dated 21.04.2006 Paragraphs 3.1, 7.1 of the Regulations on the General Shareholders’ Meeting of OJSC MMK, approved by Resolution of the Annual General Shareholders’ Meeting, dated 21.04.2006 139
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DISCLAIMER The present Annual Repor
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Victor Rashnikov, Chairman of the M
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Description Capitalization (as at y
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Content INTRODUCTORY ADDRESS of Vic
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In 2007 the Magnitogorsk Iron and S
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ANNUAL REPORT OPEN JOINT-STOCK COMP
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Human Resources The average payroll
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Using these mills, MMK manufactures
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as regards the organization of thei
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Relations with Local Communities in
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• • • ANNUAL REPORT OPEN JOIN
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10,000 8,000 6,000 4,000 2,000 0 AN
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70 60 50 40 30 20 10 0 Assets Curre
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4 3 2 1 0 Liquidity dynamics of MMK
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In accordance with its borrowing po
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1.0 0.8 0.6 0.4 0.2 Trends in OJSC
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The growing demand and buoyant pric
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8 Major Regional Markets for OJSC M
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70 LLC Uralsibtrade OJSC Uraltrubpr
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72 The changes in the domestic sale
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7 Victor Kutischev, OJSC MMK’s Co
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7 Overview of the Iron Ore and Coal
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• • Expenditures on major capit
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Page 89 and 90: tons thanks to the installation of
Page 97 and 98: Currency Risk A significant portion
Page 101 and 102: Goals Planned value Actual value Ac
Page 105 and 106: The average wages at MMK are 35% hi
Page 109 and 110: # Causes of injuries 2003 200 200 2
Page 119 and 120: Environmental Expenditures 2007 saw
Page 121 and 122: 6.00 5.16 5.00 4.00 3.00 2.00 1.00
Page 125: ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 128 and 129: 128 Exhaustive, precise and timely
Page 130 and 131: 130 Report on Payment of Declared (
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Page 134 and 135: 13 Information on Equity Capital As
Page 136 and 137: 13 Liubov Gamper, OJSC MMK’s Dire
Page 140 and 141: 1 0 # 5. 6. 7. Provisions of the Co
Page 142 and 143: 1 2 # 18. 19. 20. 21. 22. 23. Provi
Page 144 and 145: 1 # 31. 32. 33. 34. 35. 36. 37. Pro
Page 146 and 147: 1 # 45. 46. 47. 48. Provisions of t
Page 148 and 149: 1 8 # Provisions of the Code of Cor
Page 150 and 151: 1 0 # 73. 74. 75. Provisions of the
Page 152 and 153: 1 2 Director for Sales Director for
Page 154 and 155: 1 Commercial Director Director for
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Page 160 and 161: 1 0 Protection Policy which regulat
Page 162 and 163: 1 2 Sergey V. Krivoshchekov (born i
Page 164 and 165: 1 - exercises the authorities of th
Page 166 and 167: 1 Victor A. Kutischev (born in 1958
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Page 172 and 173: 172 1. Date of Publication of the L
Page 181 and 182: • settlement procedure - by insta
Page 185 and 186: 24) Services Agreement # 150577 bet
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The following persons are recognize
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The following persons are recognize
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61) rental agreement # 152445 betwe
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• validity period - from the date
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days from the receipt of invoice;
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• • • settlement procedure -
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The Body which approved the transac
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• • • validity period - till
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• • • • ANNUAL REPORT OPEN
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• settlement procedure - funds tr
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164) paid service agreement # 16001
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There are no beneficiaries under th
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during the shipment, with a discoun
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• supply period - until next Annu
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CONSOLIDATED BALANCE SHEETS AS OF D
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Note Years ended December 31, 2007
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ASSETS I. NON-CURRENT ASSETS Line c
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LOSS AND PROFIT STATEMENT for 2007
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BREAKDOWN OF INDIVIDUAL PROFITS AND
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3.3 Reporting cycle Date of Publica
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EN10 Percentage and total volume of
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The OJSC MMK’s Annual Report is e
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