MOSCOW, April 20, 2011 (GLOBE NEWSWIRE) — Mechel OAO (NYSE:MTL), one of the leading Russian mining and steel companies, announces the pricing of a public offering (the “Offering”) by certain selling shareholders of preferred shares of Mechel OAO.
The preferred shares are being offered by James C. Justice II, James C. Justice III, James C. Justice Companies Inc. and Jillean L. Justice (the “Selling Shareholders”). The Selling Shareholders have agreed to sell 32,000,000 preferred shares. The price has been set at US.50 per preferred share.
The Offering has been registered with the U.S. Securities and Exchange Commission (the “SEC”) under an automatic shelf registration statement filed by Mechel.
Morgan Stanley & Co. Incorporated and Renaissance Securities (Cyprus) Limited have acted as Joint Global Coordinators and Joint Bookrunners for the Offering. VTB Capital has acted as a Joint Bookrunner for the Offering. VTB Capital is not registered as a broker-dealer with the SEC, therefore any offers and sales of the preferred shares by VTB Capital in the United States are made through one or more SEC-registered broker-dealers, which may be affiliates of VTB Capital, to the extent required by applicable U.S. securities laws and regulations. Coalmetbank has marketed the preferred shares to the general public in the Russian Federation. Coalmetbank does not underwrite any of the preferred shares sold in the Offering.
A copy of the prospectus relating to the Offering can be obtained on the EDGAR website operated by the SEC or by contacting the underwriters for the Offering through Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, NY 10036, United States of America, tel: +1 (866) 718-1649 (attention of Prospectus Department, 180 Varick Street, New York, NY 10014, e-mail: prospectus@morganstanley.com); or, for requests from the United States, through RenCap Securities, Inc., 780 3rd Avenue, 20th Floor, New York, NY 10017, USA, tel: +1 (212) 824-1099 (attention of David Kuzmanich and John Duffy) and, for requests outside the United States, through Renaissance Capital Limited, One Angel Court, Copthall Avenue, London, EC2R 7HJ, United Kingdom, tel: +44 (207) 367-7202 x8202 (attention of Gary Lennon); or, for requests outside the United States, through VTB Capital Plc, 14 Cornhill, London EC3V 3ND, United Kingdom, tel: + 44 (20) 3334-8000 (attention of Equity Syndicate).
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, ferrochrome, ferrosilicon, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.
The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.
Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”), as the same may be amended by Directive 2010/73/EU (together with any applicable implementing measures in any Member State, the “Amending Directive”) is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive (as amended, where relevant, by the Amending Directive).
These materials are only being distributed to and are only directed at (i) persons who are outside the United Kingdom, subject to applicable laws or (ii) persons who have professional experience in matters relating to investments falling within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which these materials relate will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
This press release and the information herein are not a public offer or advertisement of securities in the Russian Federation, and are not an offer, or an invitation to make offers or to purchase, sell, exchange or transfer any preferred shares in the Russian Federation.
Not for publication or distribution into or in Canada, Japan or Australia.
The Mechel OAO logo is available at http://ping.fm/UTRid
CONTACT: Mechel OAO
Vladislav Zlenko
Director of Investor Relations
Phone: + 7 495 221 88 88
vladislav.zlenko@mechel.com
http://bit.ly/hQVG1S
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