Option mechel, Russia's Mechel keeps options open on Elga coal mine stake

Instrument de gouvernance ou de rémunération? Enles économistes Brian Hall et Jeffrey Liebman [15]montrent que les stock options ont paradoxalement contribué à accroître la faible sensibilité des rémunérations des PDG américains aux performances de leurs entreprises.

MM said it did not take up an option to buy back a stake in its Elga coal mine by a deadline on Monday as it had received an alternative offer.

MMone of its main creditors, in as part of a debt restructuring process.

Gazprombank said on Tuesday that Mechel had failed to exercise this pre-emptive right in time, adding the bank would consider options for further action. A representative of Mechel said the company needed more time to study the alternative offer it had received, but provided no further details.

Stock option

Last year, the bank received a surprise offer for its Elga holdings from investor Albert Avdolyan and his A-Property group, which prompted the bank to offer Mechel the pre-emptive right that option mechel on Monday. A-Property declined to comment on whether it had made the renewed offer to Mechel.

MMMechel's other main creditor, on the matter. VTB declined to comment.

Mechel PAO - MTL Stock Chart Technical Analysis for 01-06-2020

Rostec said it had not made an offer to participate in the Elga project. A representative of CoalStar owner Eduard Khudainatov declined to comment.

A spokeswoman at VostokCoal was not immediately available for option mechel.