Norilsk Nickel company redeems its shares

The Norilsk Nickel Mining and Metallurgical Company has redeemed 38,761,525common registered shares, which were acquired according to the decision ofthe general shareholders' meeting of the company on reducing its sharecapital as of March 29, 2002, the press service of the company reported.The Norilsk Nickel Mining and Metallurgical Company has eliminated thecrossholding of shares between the company and RAO Norilsk Nickel.As a result of this redemption, the share capital of the company reachedabout RUR213.906m (about $6.76m). The Interros investment fund holds 62.5percent of shares and minority shareholders own 37.5 percent in thecompany.After the restructuring, RAO Norilsk Nickel had control over 17.64 percentof shares in the Norilsk Nickel Mining and Metallurgical Company. In orderto eliminate crossholding of shares, shareholders decided to reduce theshare capital of the company..

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