Norilsk Nickel to set EGM date on Wednesday

© RIA Novosti . Ilya Pitalev / Go to the photo bankNorilsk Nickel
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The Norilsk Nickel board of directors will meet on August 11 to discuss UC RusAl's demand for an extraordinary general meeting of the company, Norilsk Nickel said on Tuesday.

The Norilsk Nickel board of directors will meet on August 11 to discuss UC RusAl's demand for an extraordinary general meeting of the company, Norilsk Nickel said on Tuesday.

UC RusAl holds a blocking stake in Norilsk Nickel, the world's largest nickel producer.

RusAl's main demand is a new election for the Norilsk Nickel board, which RusAl says does not reflect the parity of the principal shareholders, RusAl and Interros.

Interros, controlled by billionaire Vladimir Potanin, says it sees no need for further board elections.

The two sides have been locked in a battle for control of the company after the board was elected at the annual general meeting in June.

RusAl failed to get its candidates for the board elected, in particular the former head of Norilsk Nickel, Alexander Voloshin, who had refused to sign off a protocol in the AGM due to a conflict on management strategy. RusAl claims Norilsk Nickel's management rigging the election process, a charge Norilsk Nickel denies.

MOSCOW, August 10 (RIA Novosti) 

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