TMK Sent Shareholders of PJSC “ChTPZ” an Offer to Buy Out their Share of Shares
Pipe Metallurgical Company (TMK) has sent a proposal to the minority shareholders of PJSC ChTPZ to buy out their share of shares. The mandatory offer was sent in accordance with the requirements of the legislation in connection with the acquisition of 86.54% of shares in PJSC ChTPZ by TMK in March 2021.
Shareholders are offered to sell 41,134,490 shares of PJSC ChTPZ at a price of 318.26 rubles per share. Thus, the total cost of the package may amount to RUB 13,091.5 million. For shareholders to submit applications for the sale of securities, the deadline is set from April 17 to June 25, 2021 inclusive.
“TMK complies with the requirements of Russian legislation and provides the shareholders of PJSC ChTPZ with a good opportunity to sell their shares at a fair price,” noted TMK Vice President for Strategy Vladimir Shmatovich.
