Minority shareholders from the steelworks group ArcelorMittal Ostrava a.s. (AMO) have today appointed Ewing Public Relations as their communications consultant in efforts to defend their interests and generate media attention by way of open public protest. Their goal is to circulate their, as yet, unheard arguments and undisclosed information concerning what they believe is the improper behaviour of the majority owner of AMO. Their main grievance is the hidden distribution of undivided profit in the form of low-interest loans to the parent company, ArcelorMittal Holdings AG. Further, they are firmly protesting against the intent of the majority owner to pledge the Company's shares at tomorrow’s Extraordinary General Meeting.
"If we wanted to invest in banks or pawnshops, we wouldn’t have bought a steel mill,” declares the leader of the minority shareholders, Jiří Psota. "The behaviour of the management and the majority shareholder, AMO, is outrageous. Their arrogance has reached a level without compare. They don’t answer our questions, ignore and blatantly discriminate against us. That’s why we’ve turned to the media. AMO has lent a significant sum of undivided profit, to the tune of CZK 25.4 billion, at an unbelievably low interest rate in recent years to various businesses in the Mittal Group. Now they’re planning to use part of the stock as collateral in order to continue this opaque business practice. We intend to protest this as loud as we can and as long as the AMO management and majority shareholder of the group refuse to behave in accordance with best practices and enforceable legislation. We will bring as much pressure to bear as is possible within all legal means,” adds an indignant Psota.
For further information in Czech, please contact:
Štěpán Neubauer
Ewing Public Relations, s.r.o.
Smíchov Gate, Plzeňská 3217/16
150 00 Praha 5
tel.:+420 224 800 521, 224 828 065-8
Mobile: +420 604 216 726
e-mail: neubauer@ewingpr.cz
For further information in English, please contact:
Pavlína Rieselová
Ewing Public Relations, s.r.o.
Smíchov Gate, Plzeňská 3217/16
150 00 Praha 5
tel.:+420 224 800 521, 224 828 065-8
Mobile: +420 603 154 583
e-mail: rieselova@ewingpr.cz
"If we wanted to invest in banks or pawnshops, we wouldn’t have bought a steel mill,” declares the leader of the minority shareholders, Jiří Psota. "The behaviour of the management and the majority shareholder, AMO, is outrageous. Their arrogance has reached a level without compare. They don’t answer our questions, ignore and blatantly discriminate against us. That’s why we’ve turned to the media. AMO has lent a significant sum of undivided profit, to the tune of CZK 25.4 billion, at an unbelievably low interest rate in recent years to various businesses in the Mittal Group. Now they’re planning to use part of the stock as collateral in order to continue this opaque business practice. We intend to protest this as loud as we can and as long as the AMO management and majority shareholder of the group refuse to behave in accordance with best practices and enforceable legislation. We will bring as much pressure to bear as is possible within all legal means,” adds an indignant Psota.
For further information in Czech, please contact:
Štěpán Neubauer
Ewing Public Relations, s.r.o.
Smíchov Gate, Plzeňská 3217/16
150 00 Praha 5
tel.:+420 224 800 521, 224 828 065-8
Mobile: +420 604 216 726
e-mail: neubauer@ewingpr.cz
For further information in English, please contact:
Pavlína Rieselová
Ewing Public Relations, s.r.o.
Smíchov Gate, Plzeňská 3217/16
150 00 Praha 5
tel.:+420 224 800 521, 224 828 065-8
Mobile: +420 603 154 583
e-mail: rieselova@ewingpr.cz
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