OREANDA-NEWS. At an Extraordinary General Meeting of Shareholders (EGM), which took place in Moscow on January 17, 2007, the shareholders of ОАО TMK reviewed the proposed amendments to the Management Board Regulations of the Company.

According to the press service of TMK, the revised Management Board Regulations of ОАО TMK contain a supplementary phrase in paragraph four “Rights, obligations and responsibility of members of the Management Board” concerning a new obligation for members of the Management Board to inform the Board of Directors, the Audit Committee and the auditor of ОАО TMK in writing of their holdings in ОАО TMK securities as well as of the sale and (or) purchase of securities of ОАО TMK.

89.53% of shareholders took part in the meeting, and this decision was supported by 89.18% of votes cast.

”The results of the vote show that the overwhelming majority of shareholders support the drive at TMK for greater transparency and openness of management with regard to shareholders of the Company and measures to prevent the use of insider information in the trading of Company’s shares”, said OAO TMK’s CEO Konstantin Semerikov.