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

Director for Corporate
Integration Policy
Director for Security
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ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS
SEASON 2007
1 Development of the MMK Group’s integrated corporate structure.
Creation and development of a corporate management center.2
Protection of OJSC MMK’s shareholders’ property rights and the
rights of companies with OJSC MMK’s participation.3 Planning
and implementation of corporate integration (M&A) projects .4
Ensuring a rational structure of the Company’s property, efficient
capital movement and access to stock markets.5 Improvement and
efficient operation of the OJSC MMK’s Risks Management System.
1 Ensuring security of OJSC MMK’s and the MMK Group’s activities.
Protection and safeguarding OJSC MMK’s and the MMK Group’s
property.2 Maintenance of the internal and external organizational
stability of OJSC MMK and the MMK Group.3 Forecasting and
prevention of threats to the OJSC MMK’s interests and development
of measures for their localization.4 Coordination of the MMK Group’s
security services activities.5 Ensuring efficient operation of the OJSC
MMK’s economic security system.
Information on the General Shareholders’ Meeting
The following matters are within the competence of the general shareholders meeting:
amendments and additions to the Charter of the Company or approval of the revised Charter, except as
otherwise provided for by the Law;
reorganization of the Company;
liquidation of the Company, appointment of the liquidation committee and approval of the interim and final
liquidation balance sheets;
determination of the Board of Directors’ composition, election of its members and early termination of their
mandate;
setting the amount of remuneration or compensation to be paid to the members of the Board of Directors;
determination of the quantity, par value, categories (types) of declared shares and the rights granted by such
shares;
increase of the Company’s authorized capital by raising the shares’ par value;
increase of the Company’s authorized capital by placing additional shares within the quantity of declared
shares, by closed subscription;
increase of the Company’s authorized capital by placing, by closed subscription, of additional shares within the
quantity of declared shares ;
increase of the Company’s authorized capital by placing, by open subscription, of ordinary shares accounting
for over 25% of the ordinary shares placed earlier;
reduction of the authorized capital of the Company by decreasing the shares’ par value, acquisition by the
Company of a part of shares for the purpose of reducing their total number, or by cancellation of the shares
acquired or bought back by the Company;
constitution of the individual executive body (General Director) and early termination of its mandate;
adoption of a decision regarding transfer of the authority of the individual executive body of the Company to a
managing entity or a manager;
election of the members of the Internal Audit Committee and early termination of their mandate;
setting the amount of remuneration or compensation to be paid to the members of the Internal Audit
Committee;
approval of the Company’s Auditor;
approval of the Company’s annual financial statements and accounting reports, including profit and loss
accounts, and distribution of the Company’s profit (including payment (declaration) of dividends, with the
exception of profit distributed as dividend after the first quarter, first six or nine months of the financial year)
and losses of the Company after the end of the financial year;
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