REG - Evraz Plc - Update on AGM 2021 resolutions

EvrazAnnouncement

29/12/2021 14:00

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RNS Number : 9527W  Evraz Plc  29 December 2021

Update on AGM 2021 resolutions

 

29 December 2021 - EVRAZ plc (LSE: EVR) (the "Company") announces that
following the Company's 2021 Annual General Meeting held on 15 June 2021 (the
"AGM"), the Company announced that all of the resolutions put forward to the
meeting were passed with the requisite majority of votes. However, in
accordance with Provision 4 of the UK Corporate Governance Code 2018, the
Company provides this update following the significant vote against the
resolution to reappoint Alexander Izosimov as a director at the AGM
(Resolution 9). Although the resolution was passed at the AGM, the Company has
considered the views of a number of shareholders who had at that point,
advised that due to their concerns over gender diversity at the Company, had
voted against the reappointment of Mr Izosimov, on the basis that Mr Izosimov
is Chair of the Company's Nominations Committee.

The Board of the Company ("Board"), assisted by its Nominations Committee, has
recently considered diversity across the Company in detail and has adopted an
updated policy with regard to board diversity, covering both gender and ethnic
diversity. The Board recognises that the business operations of the Company,
predominantly in both the Russian Federation and North America, have
workforces that closely represent the diversity of the communities where its
operational plants are based.

With regard to Board representation, the Board is currently in a state of
transition, as two independent non-executive directors agreed to remain on the
Board after three new independent directors had been appointed in June 2021.
This was to assist with the induction of the new appointees, against the
backdrop of a major demerger which has been announced to the market but not
yet completed. These two male individuals will step down after the completion
of the demerger. When they do, and additional appointments are announced to
replace another director who is due to stand down in 2022, then the Company's
gender percentage ratio is anticipated to improve.

The Board has discussed the Parker review and its recommendation to FTSE 100
boards. The Board will take this, and the Hampton-Alexander review
(predecessor of the FTSE Women Leaders Review) recommendations, into account
when recruiting to the Board. It is, however, mindful that any appointment
needs to be on the basis of merit, and that with the geographical location of
the Company's operations being outside of the UK, other experiences may be
needed which better reflect a diversity of views for the benefit of the Board
and the Company's stakeholders.

The Nominations Committee chair will consult further with the Company's
shareholders ahead of the 2022 Annual General Meeting.

 

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For further information:

 

 Media Relations:   Investor Relations:

 +7 495 937 6871    +7 495 232 1370

 +44 207 290 1096   +44 207 290 1095

 media@evraz.com    ir@evraz.com

 

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