OREANDA-NEWS. March 29, 2010. CEO of Mariupol Illich Steelworks <MMKI UK U/R>  Mr. Boyko announces the postponement of the Company’s AGM for an indefinite period. This news was broken by the CEO due to an earlier ruling of the Donetsk Commercial Court which prohibits the MMKI registrar to give out the Company’s shareholders register, and this makes it effectively impossible to conduct the AGM. Earlier, Mr. Boyko disclosed the information about forged promissory notes in the amount of UAH 113mn, which a certain business group associated with Private Group is trying to cash at the cost of MMKI. The transfers of the Company’s stocks have now been suspended in view of the ongoing litigation. Mr. Boyko describes these actions as a hostile takeover attack against his company.

Millennium Capital: this news is undoubtedly negative for the Company, since it adds corporate conflict undertones to the Company’s business problem news, which fact contributes to another dent in the MMKI stocks attractiveness for investors.