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FAQ

How does the Company inform its shareholders about the General Meetings of Shareholders?

According to the Company’s Charter, the notice on conducting the General Meeting of Shareholders is to be published no later than 30 days prior to the date of the General Meeting. If the agenda of the Extraordinary General Meeting of Shareholders contains an item pertaining to the election of the Board of Directors, such notice is to be published no later than 50 days prior to the date of the General Meeting.
Within the abovementioned timeframes the notice on the conducting the General Meeting of Shareholders is to be posted on the Company's website - www.severstal.com. The ballots for voting on items of the agenda shall be forwarded to the Company's shareholders no later than 20 days before the General Meeting of Shareholders.

How does the Company inform its shareholders about the resolutions taken at the General Meetings of Shareholders?

According to the applicable Russian law, the resolutions taken by the General Meeting of Shareholders, as well as voting results, may be announced in the course of the given General Meeting and will be made available to shareholders in the form of a Voting Results Report.
The Voting Results Report will be posted on the Company's website in the General Shareholders’ Meeting section (www.severstal.com) no later than 4 business days after the date of the General Meeting or the end date for collecting the voting ballots when the General Meeting of Shareholders is held in absentia.

Moreover, the Company shall disclose the resolutions taken by the General Meeting of Shareholders as a Corporate Action Notice as required by the applicable Russian law.

When is the Annual General Meeting of Shareholders held?

According to Russian Federal Law “On Joint Stock Companies” and the Company’s Charter, the Company’s Annual General Meeting of Shareholders shall be held no earlier than two months and no later than six months after the end of a fiscal year.

When is an Extraordinary General Meeting of Shareholders held?

According to Russian Federal Law “On Joint Stock Companies” and the Company’s Charter, an Extraordinary General Meeting of Shareholders shall be held at the decision of the Board of Directors based on:
  • initiative of the Company’s Board of Directors;
  • request of the Company’s Internal Audit Commission;
  • request of the Company’s auditor;
  • request of a shareholder(s) of the Company holding in aggregate no less than 10% of the Company’s voting shares on the date such a request is given.

Who is entitled to participate in voting at the General Meeting of Shareholders?

Those entitled to participate in the General Meeting of Shareholders are the persons included in the list of persons entitled to participate in the General Meeting of Shareholders and persons whom the rights for shares of the abovementioned persons has been transferred to due to inheritance or reorganization, or their representatives acting on the basis of a power of attorney for voting or applicable law.

The list of persons entitled to participate in the General Meeting of Shareholders shall be drawn up on the basis of the Company’s share register.

The date for the compilation of the list of persons entitled to participate in the General Meeting of Shareholders (Record Date) shall be determined by the Company’s Board of Directors. The Record date shall not be fixed earlier than the date of adoption of a decision on conducting the General Meeting and later than 50 days prior to the date of the General Meeting (in case the agenda of the Extraordinary General Meeting of Shareholders contains an item on election of members of the Board of Directors - later than 80 days prior to the date of the General Meeting).

The quantity of votes of a shareholder is calculated on the basis of a proportion of “one voting share per one vote”, in exception of a cumulative voting when the members of the Company’s Board of Directors are elected. At cumulative voting the votes of each shareholder are multiplied by the number of persons to be elected to the Company’s Board of Directors, and the shareholder has the right to give the votes received thus completely for one candidate or to distribute them between two and more candidates. Candidates to the Company's Board of Directors with the greatest number of votes are considered elected.

How can the shareholder participate in the General Meeting of Shareholders?

In order to participate in the General Meeting, the shareholder should fill out the voting ballots sent to his/her address by the Company and forward them to: 162608, the Russian Federation, Vologda region, city of Cherepovets, Mira Street 30, central check-point of PAO Severstal, room 101 or personally (or via his representative acting on the basis of the power of attorney drafted in accordance with the applicable Russian law) take part in the General Meeting on the date of its conducting provided that the General Meeting is held in the form of the meeting (personal form). If the General Meeting is held in the form of a absentee voting (absentee form), the shareholders shall send a filled-out voting ballot to the Company at the abovementioned address.
In case an option to vote in electronic format is determined upon convocation of the General meeting, the shareholders may fill out an electronic form of the voting ballot at the webpage on the information and telecommunication network “Internet” whose address is determined by the Company’s Board of Directors and is indicated in the notice on holding the General meeting.

What stock exchanges are the Company’s shares listed on?

The Company's shares are traded on the MICEX Stock Exchange in the First Level quotation list. In 2006 OAO Severstal issued Global Depositary Receipts (GDR). One depository receipt corresponds to one ordinary share. The Reg S GDRs are listed on the London Stock Exchange under symbol “SVST”.
The 144A GDRs are present in the PORTAL system. Deutsche Bank Trust Company Americas acts as GDR issuer. Depositary receipts are also traded on the SPB exchange starting from April 21 2021.

Where and how can I find information about market value of the Company’s shares?

An official quotation of PAO Severstal shares can be found on www.micex.ru and www.severstal.com.

Why did not I receive physical shares in my own hands when I bought them?

PAO Severstal issued ordinary shares that are deemed to be registered securities. According to article 16 of Russian Federal Law “On Joint Stock Companies”, the registered securities are to be issued in non-documentary form only. All shares of PAO Severstal are deemed to be registered and are issued in a non-documentary form. The ownership for PAO Severstal shares is registered in the Company’s share register.
The holder of PAO Severstal’s share registrar is a professional participant of the securities market authorised to keep the register of security holders (Registrar) – Limited Liability Company “PARTNER”.

Does the Company intend to pay out dividends?

According to the applicable Russian Law and the Company’s Charter, dividends shall be deemed a portion of the Company’s net profit to be distributed between its shareholders in proportion to the number of shares of a specific category and type exclusively on the basis of the General Meeting’s resolution based on recommendations of the Board of Directors.

The Board of Director’s recommendations adhere to the following key principals of the Company’s dividend policy:

  • the Company shall pay dividends on an annual basis, the Company will endeavour to pay interim dividends provided that its current financial position is sustainable;
  • the dividend payout will depend on the performance of PAO Severstal and its subsidiaries, i.e. it will vary with the amount of net profits and its free cash flow of PAO Severstal and its subsidiaries;
  • in the medium term, the Company intends to declare dividends on a quarterly basis, so that the total annual dividend amount is equivalent to 100% of free cash flow of PAO Severstal and its subsidiaries for the respective reporting period determined on the basis of periodic consolidated financial statements of PAO Severstal and its subsidiaries prepared in accordance with International Financial Reporting Standards (“the Consolidated financial statements”), provided that the net debt/EBITDA ratio based on figures in the Consolidated financial statements is lower than 1.0x, the Company is allowed to make amendments as a result of seasonal fluctuations in working capital;
  • should the net debt/EBITDA ratio, determined on the basis of the Consolidated financial statements, be lower than 0.5x, the amount of paid dividends can exceed 100% of free cash flow, based on the Consolidated financial statements for the respective reporting period;
  • should the net debt/EBITDA ratio be higher than 1.0x, the Company shall move to a policy of paying dividends on a quarterly basis with an average amount for the results of a calendar year equivalent to 50% of free cash flow for the respective reporting period, determined on the basis of the Consolidated financial statements until the net debt/EBITDA ratio returns to 1.0x or below. 

Who is entitled to receive dividends?

The right to receive dividends belongs to shareholders who owned the Company’s shares on the date set for the compilation of the list of persons entitled to participate in the General Meeting (Record date), at which the resolution to pay out dividends has been taken. The Record Date shall be determined by the Company’s Board of Directors and be fixed according to the date of the General Meeting.

In the event the shareholder sells his shares prior to the Record Date, the right to receive dividends is transferred to a new owner of the Company’s shares.

The list of persons entitled to receive dividends shall be determined as required by the applicable Russian law.

What is the amount and timing for paying out the dividends by the Company?

On the basis of the results of the first quarter, six months and nine months of a financial year and/or on the results of a financial year, the Company has the right to take a decision/announce a distribution of dividends on issued shares, unless otherwise is provided for by the Russian Federal Law “On Joint Stock Companies” and any other regulatory acts. Dividends are paid from the Company’s net profit for a relevant reporting period and retained earnings from prior periods. The decision to pay out dividends is taken at the Company's General Meeting. However, the amount of dividends approved by the General Meeting cannot be more than that recommended by the Company’s Board of directors.

According to the applicable Russian law, the dividends shall be paid within the following timeframes and be based on the Record Date:

  • within 10 (ten) business days to nominal holders and beneficial owners on the basis of the shareholder register who are professional securities market participants;
  • within 25 (twenty-five) business days to other registered shareholders.

Will I get the dividends if I sell my shares after the Record Date?

The dividends will be paid provided that you are a shareholder of the Company as of the date set for the compilation of the list of persons entitled to participate in the General Meeting (Record date).

How did the nominal and market value of the Company’s shares change after the share split-up?

Following the split-up of PAO Severstal’s shares (based on the Resolution of the General Meeting dated May 21, 2004), each ordinary nominal share of the Company with a face-value of 0.25 RUB each have been converted into 25 ordinary shares with a face-value of 0.01 RUB. Consequently, the number of shares owned by each shareholder has been multiplied by 25.

The share split-up has not changed the market value of shares owned by each shareholder of the Company.

On what number of shares will the dividends be accrued after the share split-up?

As a result of the share split-up, the dividends shall be accrued on the number of shares resulted from the conversion of shares and registered at the shareholder’s personal account.

Taxation of income per shares.

The dividends received by the Company’s shareholder shall be deemed a taxable income. The assessment and payment of taxes in relation to income received as dividends per shares of the Russian companies shall be made by the tax agent as required by the Russian Tax Code. 
The Russian companies paying an income on securities issued by such a company (i.e. Joint Stock Company "Severstal") is deemed to be a tax agent for the securities, the rights on which are asserted in a share register of the Russian company. If income on the securities, the rights on which are asserted by a depository, are paid by a depository then the depository shall be deemed to be a tax agent.

What is a registrar and who is PAO Severstal’s registrar?

Registrars are specialised organizations licensed by the Bank of Russia that record shareholders’ entitlements to shares of joint stock companies, based on articles and agreements between the company and the shareholders. These entitlements are recorded in the share register by the registrar, who keeps records in individual accounts for each shareholder. These individual accounts contain information about the shareholders, the number of shares they own and operations with shares.

The registrar of PAO Severstal is the Limited Liability Company “PARTNER” (LLC “PARTNER”). PARTNER’s license number, which enables it to carry out its duties as a registrar, is № 10-000-1-00287, dated 4 April 2003. The registrar’s address is: 162606, the Russian Federation, Vologda region, Cherepovets, Pobeda Prospect 22. Tel.: +7 (8202) 53-60-21. Web-site address: https://partner-reestr.ru.

What form are PAO Severstal’s shares in and how are entitlements to its shares certified?

The shares of PAO Severstal are issued in dematerialized form only and are certified by the records of the individual accounts of the registrar.
Ownership entitlements to shares are certified when the share register extract is issued by the registrar. The extract will specify the owner of the individual account, the number of securities of each issue registered in the account as of the extract date, plus any encumbrances and restrictions. The extract from the register confirms the entitlements to shares only as of the extract date.

How can I access an extract from the share register of PAO Severstal detailing the number of shares that are in my possession?

In order to obtain an extract from the share register of PAO Severstal, the shareholder will need to refer to the registrar – LLC “PARTNER” at the following address: 162606, the Russian Federation, Vologda region, Cherepovets, Pobeda Prospect 22.

An extract from the share register in the form of an electronic document signed with reinforced qualified electronic signature by an authorised person of the registrar can be obtained in an electronic service - “Individual cabinet” on the registrar’s website: https://partner-reestr.ru.

The registrar renders services on a fee-paying basis. Please refer to the registrar’s official web-site for more information (https://partner-reestr.ru).

What shall I do if my personal data has changed, such as last, first and middle names, passport details, residential address (registered address), postal address, bank details? Who shall I contact in order to update my personal data?

In such instances where the shareholder’s personal data changes, the following documents will need to be submitted to LLC “PARTNER” at: 162606, the Russian Federation, Vologda region, Cherepovets, Pobeda Prospect 22 or to any of its branch offices:
  • The registered person will be required to complete a signed form, whereby the signature will need to be witnessed by an authorised employee of the registrar. Alternatively, the authenticity of the signature can be notarized. If the shareholder appears in person, the form is to be filled out by the registrar’s employee. The form can be submitted to the registrar by either the shareholder in person, or by his/her authorised representative on the basis of the power of attorney. However, note that the form cannot be signed by any other person (including on the basis of the power of attorney), since the form mandatorily contains the shareholder’s signature. 
  • A notarized copy of the ID document (the copy can be either notarized or certified by the registrar employee). 
  • The documents confirming an authenticity of changes are as follows:

    – Taxpayer Identification Number (INN),

    – Insurance Individual Account Number (SNILS),

    – Bank details, such as bank’s name, location, Bank Identification Code (BIK), Taxpayer Identification Number (INN), correspondent account number, current account or card account numbers of the shareholder,

    – Notarised copy of the document certifying the change of last name (Marriage Certificate, Divorce Certificate, Name Change Certificate etc.). Such a copy can be certified by the registrar’s employee if the original document is presented alongside it.

Please refer to the registrar’s official website for more information (https://partner-reestr.ru) about:
  • registrar’s services, 
  • rules for filing and provision of documents, 
  • prices and payment procedure, 
  • contacts of registrar and its branch offices, etc. 
For consultations please phone the registrar at: +7 (8202) 51-72-04.

Who shall I contact for more information about dividends of PAO Severstal?

For more information please refer to Shareholder Consultation Group of PAO Severstal by phone: + 7 (8202) 53-08-80 or email: corporate_secretary@severstal.com.

To contact us

Contact Information

Other contacts

IR Contact

Vladimir Zaluzhsky

Head of Communications and Investor Relations

Nikita Klimantov

Head of Investor Relations

GDR Depositary Contact

Deutsche Bank Trust Company Americas

60 Wall St., New-York, NY, 10005 USA

Registrar Contact

OOO “PARTNER”

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