2016 AGM Statement and Results

Fri, 07/01/2016

Amsterdam, 1 July 2016 – Vimetco N.V. (“Vimetco” or the “Company”) (LSE: VICO), the global producer of primary and processed aluminium products, held its Annual General Shareholders Meeting (“AGM”) at Strawinskylaan 403, World Trade Centre, A Tower, 4th floor, 1077 XX Amsterdam, The Netherlands, on 20 June 2016, where all proposed resolutions were duly passed. The Agenda of the AGM along with the Convening Notice were sent to the shareholders of the Company on 9 May 2016 and are available on the Vimetco N.V. website www.vimetco.com

The AGM adopted the 2015 Annual Accounts of Vimetco N.V. With respect to the dividend policy, no changes to the current policy were made. Although the general intention of the Board is to distribute approximately 20% of the consolidated income of the Group on average over the aluminium price cycle to its shareholders, due to absence of profits in 2015, the Company will not make any appropriation of profits to the shareholders and holders of depository receipts for shares in the Company.

The AGM fixed, in accordance with article 14.2 of the Company’s article of association, the number of members of the Board of Directors at 11. As Mr. B. Ciobotaru was not reappointed as non-executive member of the Board for the coming year, a vacant place on the Board remained. Following the reappointment of all the other 10 members of the Board, for the period of one year ending on the date of the Annual General Shareholders Meeting to be held in 2017 ("AGM in 2017"), the Board of Directors of Vimetco N.V. has the following composition:

Mr. Vitaliy L. Machitski, non-executive member and Chairman of the Board of Directors for the period ending on the date of the AGM in 2017;

Mr. James M. Currie, non-executive member of the Board of Directors for the period ending on the date of the AGM in 2017;

Mr. Gary G. B. Zhang, non-executive member of the Board of Directors for the period ending on the date of the AGM in 2017;

Mr. Valery N. Krasnov, non-executive member of the Board of Directors for the period ending on the date of the AGM in 2017;

Mr. Vyacheslav M. Agapkin, non-executive member of the Board of Directors for the period ending on the date of the AGM in 2017;

Mr. Gheorghe Dobra, executive member of the Board of Directors and Chief Executive Officer of Vimetco N.V. for the period ending on the date of the AGM in 2017;

Mr. Denis Sedyshev, non-executive member of the Board of Directors for the period ending on the date of the AGM in 2017;

Mr. Igor Sventski, non-executive member of the Board of Directors for the period ending on the date of the AGM in 2017;

Mr. Marian Nastase, executive member of the Board of Directors and Chief Financial Officer of Vimetco N.V. for the period ending on the date of the AGM in 2017;

Mr. Pavel Machitski, executive member of the Board of Directors for the period ending on the date of the AGM in 2017.

The Board of Directors has reappointed Ernst & Young Accountants LLP as the auditors of the Company for the financial year 2016.

For the full version of the records of the AGM, please see our website.

###

For further information please contact: 

Ana-Maria Imbrea

Investor Relations Officer

Vimetco N.V.

Phone +40 750 067 717

Email: amimbrea@vimetco.ro

About Vimetco

Vimetco N.V. is a global, vertically integrated producer of primary and processed aluminium products with production assets in China, Romania and Sierra Leone, and a holding company in The Netherlands. Vimetco N.V. controls annual production capacities of up to one million tonnes of electrolytic aluminium, 340,000 tonnes of processed aluminium products, 600,000 tonnes of alumina, 1.7 million tonnes of bauxite, 2.25 million tonnes of coal, 3 x 300 MW of electricity and 318,000 tonnes of baked anodes per year. Vimetco’s global depositary receipts are listed on the London Stock Exchange (LSE: VICO).

www.vimetco.com