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4-Traders Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  GMK Noril'skiy nikel' PAO    GMKN   RU0007288411

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GMK Noril'skiy nikel' OAO : Statement by MMC Norilsk Nickel

12/26/2012 | 06:34am US/Eastern

Moscow, December 26, 2012 - OJSC MMC Norilsk Nickel (hereinafter, MMC Norilsk Nickel or the Company) announces that yesterday the Arbitration Court of the Krasnoyarsk Territory satisfied the Company's claim to rule as illegal and cancel the order of the Regional Office of FFMS of Russia in the Siberian Federal District (the RO of the FFMS of Russia in the SFD) on imposition of administrative sanctions on MMC Norilsk Nickel. The order was issued on the basis of the administrative offense report drafted by the FFMS of Russia.

According to the FFMS of Russia and the RO of the FFMS of Russia in the SFD, the Company committed law violation with respect to presentation and disclosure of information on financial markets. The administrative authorities considered that the Company's 2011 Annual Report lacked information on the remuneration of the sole executive body.

After complete and comprehensive examination of the case files, the arbitration court ruled in favour of the Company by adjudicating the imposition of administrative sanctions on the Company as illegal.


MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.

The key production units of the Company's group in Russia are at the Taymyr and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.

MMC Norilsk Nickel's shares are traded at MICEX-RTS. ADR's on the Company's shares are traded on the other the counter market in the US and at the London and Berlin stock exchanges.


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