Shareholders of Russia's top nickel producer Norilsk Nickel have voted against the board’s re-election at an extraordinary meeting initiated by RusAl, the world's largest alunimium producer and one of Norilsk core shareholders, Norilsk Board Chairman Vasily Titov said on Thursday.
Titov said that nearly 38 percent of shareholders voted for the re-election and about 47 percent voted against it.
RusAl, controlled by billionaire Oleg Deripaska, and Interros, billionaire Vladimir Potanin's investment arm, both holding a quarter of Norilsk's shares, have been embroiled in a shareholder row after RusAl has lost one seat on Norilsk's board at a June annual general meeting, while Interros increased its representation.
RusAl has accused Interros of ruining the parity and the board of directors of a vote fraud.
On Tuesday, Interros called on Norilsk minority shareholders to vote against termination of authority of the company's board at the EGM. Interros said that RusAl's campaign to contest the AGM’s results, which it said was groundless and aimed to serve RusAl's interests only, was directed against Norilsk's shareholders, management and independent directors.
MOSCOW, October 21 (RIA Novosti)
