TMK's Board of Directors decided to transition to a single-tier corporate structure by merging eight key subsidiaries. In order to exchange minority shares in the subsidiaries, an additional issue will be made, the volume of which will not exceed 5% of the charter capital. Question of changing the corporate structure will be considered by the shareholders' meeting on July 31. TMK shareholders who vote against or do not attend the meeting will be able to tender their shares for redemption at ₽116.1 per share.