Mechel reports change in shareholder structure

Mechel has announced that Mr. Zyuzin, Chairman of the Board, has increased his stake to 52.2 percent through a series of private transactions. Mr. Zyuzin increased his share in Mechel to a controlling interest by agreeing to buy out shares from Mr. Vladimir Iorich, Mechel's current CEO. Mechel's free float is currently 23 percent, which is currently the largest free float among Russian mining and steel companies.