Mechel to announce compulsory redemption of shares from Oriel's minority shareholders

/INTERFAX, Moscow, August 21, 08/ - Mechel group sent to minority shareholders of British Company an offer on compulsory redemption of shares. According to Oriel's message, the company plans delisting of its shares from Alternative Investment Market (AIM) of London Stock Exchange on September 19 or near this date. As informed before, according to July 3 data, Mechel managed to consolidate 99.7 % shares of British Company. The term of Mechel`s friendly offer to shareholders of Oriel, which owns assets on nickel and chrome production in Kazakhstan and Tikhvinskiy ferroalloy plant in Leningrad oblast of RF, expired April 16. Majority holding of metallurgic, coal-mining, energy companies and trade ports are consolidated in Mechel group. The major beneficiary of Mechel OJSC is a general director of the group Igor Zyuzin, free float (ADR) makes about 25 %. [2008-08-21]