Mechel OAO - Form 6-K
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

June 18, 2013

Commission File Number: 001-32328

Mechel OAO
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(Translation of registrant’s name into English)
 
RUSSIAN FEDERATION
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(Jurisdiction of incorporation or organization)
 
Krasnoarmeyskaya 1,
Moscow 125993
Russian Federation
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(Address of principal executive office)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:  [x] Form 20-F    [ ] Form 40-F
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  [ ]
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  [ ]
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:  [ ] Yes    [x] No
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):    n/a 
 

MECHEL ANNOUNCES BUYBACK PROGRAM

Moscow, Russia — June 18, 2013 – Mechel OAO (NYSE: MTL), one of the leading
Russian mining and metals companies, announces the decision of the company’s
Board of Directors to authorize the buy back of up to $100 million of ADRs
representing Mechel OAO’s common shares.
These repurchases will be made in open market or privately negotiated
transactions from time to time, subject to market conditions, applicable legal
requirements and other factors.  This plan does not obligate Mechel to acquire
any particular number of ADRs and the plan may be suspended at any time at the
company’s discretion. The buyback will be done on behalf of Skyblock Limited,
Mechel OAO’s 100-percent owned subsidiary.
“The Board of Directors has a diligent approach toward appraising capital
structure and studying ways to efficiently use cash flows to increase the
company's shareholder value. The buyback decision reflects the Board's
confidence that the fundamental value of our company's shares is higher, and
meets the interests of all of its shareholders”, Mechel OAO’s Chief Financial
Officer Stanislav Ploschenko noted.
***
Mechel OAO
Elena Andreyeva
Tel: + 7 495 221 88 88
elena.andreeva01@mechel.com

***
Mechel is one of the leading Russian companies. Its business includes four
segments: mining, steel, ferroalloy and power. Mechel unites producers of coal,
iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products,
hardware, heat and electric power. Mechel products are marketed domestically and
internationally.
***
Some of the information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of Mechel, as defined in the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. We wish to caution you that
these statements are only predictions and that actual events or results may
differ materially. We do not intend to update these statements. We refer you to
the documents Mechel files from time to time with the U.S. Securities and
Exchange Commission, including our Form 20-F. These documents contain and
identify important factors, including those contained in the section captioned
“Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in our
Form 20-F, that could cause the actual results to differ materially from those
contained in our projections or forward-looking statements, including, among
others, the achievement of anticipated levels of profitability, growth, cost and
synergy of our recent acquisitions, the impact of competitive pricing, the
ability to obtain necessary regulatory approvals and licenses, the impact of
developments in the Russian economic, political and legal environment,
volatility in stock markets or in the price of our shares or ADRs, financial
risk management and the impact of general business and global economic
conditions.

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
    Mechel OAO
     
Date: June 18, 2013 By: Evgeny V. Mikhel

  Name:  Evgeny V. Mikhel
  Title: CEO