OREANDA-NEWS. September 15, 2011. The meeting in absentia of the Board of Directors of OJSC MMC Norilsk Nickel took place. The Company’s Shares Acquisition terms were approved by the majority of votes, reported the press-centre of Norilsk Nickel.

The offer envisages the acquisition of 14 705 882 MMC Norilsk Nickel’s ordinary registered non-documentary shares and/or ADRs, representing 7.71% of the Company’s authorized capital. The price shall be USD 306 per share and USD 30.6 per ADR.

The acquisition terms completely match the terms of the offer made to UC RUSAL with regard to the acquisition of 15% of the Company’s shares, which expired on September 5, 2011. RUSAL’s Board of Directors rejected the offer.

MMC Norilsk Nickel may allocate up to USD 4.5 billion to shares acquisition program.

The decision to make an offer was taken with account for opinion of Citi, Societe Generale, Barclays Capital, and other banks.

The offer is in line with further increase of the Company’s capitalization and corresponds to the best practice of corporate governance. This way, MMC Norilsk Nickel adheres to the principle of just and equal treatment of all its shareholders and ADR owners.