Further analysis from the Phase 3 ANDROMEDA study presented at the 2021 ASCO Annual Meeting also show doubling rates of organ response with no new safety signals The Janssen Pharmaceutical Companies
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EQS-News: PJSC Mechel: Mechel Reports Decisions of its Board of Directors
PJSC Mechel: Mechel Reports Decisions of its Board of Directors
25.05.2021 / 12:00 MSK
MECHEL REPORTS DECISIONS OF ITS BOARD OF DIRECTORS
Moscow, Russia - May 25, 2021 - Mechel PAO (NYSE: MTL, MOEX: MTLR), a leading Russian mining and metals company, announces the decisions made by its Board of Directors at a meeting held on May 24, 2021.
The Board of Directors made the following recommendations to the general meeting of Mechel PAO s shareholders:
- not to pay an annual dividend with respect to ordinary shares;
- to pay an annual dividend of 1.17 rubles per one preferred share.
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Transaction to result in Algoma Steel becoming a publicly listed company.
At $10.00 per share of Legato common stock, this all-stock transaction values the combined company at an enterprise value of approximately $1.7 billion including contingent consideration.
At an enterprise value of approximately $1.7 billion including contingent consideration, the combined company would be valued at 1.9x expected calendar year 2021 Adjusted EBITDA of $901 million.
Transaction expected to provide Algoma Steel with $306 million of capital, including a $100 million fully committed private placement with key investors.
New equity capital will provide Algoma Steel with flexibility to continue with strategic and transformational investments in the business, including the potential for a substantial investment in electric arc steelmaking which would enhance earnings potential and substantially reduce Algoma s carbon footprint by approximately 70%.