Shareholders approve resolutions on agenda of ArcelorMittal

The Annual General Meeting of shareholders and Extraordinary General Meeting of shareholders of ArcelorMittal that were held today in Luxembourg approved all resolutions on the agenda.

877,992,526 shares, or 63.12% of the Company’s share capital, were present or represented at the meeting. All the resolutions on the agenda were adopted by the shareholders by an overwhelming majority.

In particular, the shareholders acknowledged the resignations of Romain Zaleski, Corporación JMAC B.V. and Manuel Fernandez Lopez from the Board of Directors, as well as the expirations of the mandates of Joseph Kinsch and Edmond Pachura. They elected Lewis B. Kaden, Ignacio Fernández Toxo, Malay Mukherjee and Antoine Spillmann as members of the Board of Directors.

The shareholders decided to authorise the Board of Directors to issue stock options or other equitybased awards to the Company’s most senior group of managers for up to a maximum of 8,500,000 of the Company’s shares. They also authorised the Board to implement an Employee Share Purchase Plan (“ESPP”) for all or part of the employees and executive officers of the companies comprised within the scope of consolidation of ArcelorMittal for up to a maximum of 2,500,000 shares.

At the Extraordinary General Meeting, the shareholders decided to increase the authorised share capital of the Company by an amount of 643,860,000 euros represented by 147,000,000 shares, or approximately 10% of ArcelorMittal’s outstanding share capital.

This was the last General Meeting of ArcelorMittal chaired by Joseph Kinsch, who is retiring after a career of almost 50 years in the steel industry. Lakshmi Mittal, Chairman and CEO of ArcelorMittal, expressed his gratitude to Mr. Kinsch for his contribution to the steel industry and ArcelorMittal, saying: “I have been working with him for over two years now and I have come to respect his determination, integrity and strength of character”. 

Sourced From: ArcelorMittal