Russia's TMK shareholders approve transition to single share

Russian pipe maker TMK TRMK says:

• Shareholders have approved a merger of eight of the parent company's subsidiaries and a transition to a single share;

• Shareholders who voted against the merger can present their shares for redemption at a price of 116.10 roubles ($1.45) per share;

• Transition to a single unified share planned to take place by December 31, 2025.

($1 = 80.1500 roubles)