# EDGAR Filing Document

**Accession Number:** 0001302362
**File Stem:** 0001193125-23-026316
**Filing Date:** 2023-2
**Character Count:** 14988
**Document Hash:** 3ebb08ec57a871f29101809c4ee1114c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-026316.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001193125-23-026316

**CONFORMED SUBMISSION TYPE**: 15F-12B

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mechel PAO
- **CENTRAL INDEX KEY:** 0001302362
- **STANDARD INDUSTRIAL CLASSIFICATION:** STEEL WORKS, BLAST FURNACES  ROLLING MILLS (COKE OVENS) [3312]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** 1Z
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 15F-12B
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32328
- **FILM NUMBER:** 23592983

**BUSINESS ADDRESS:**
- **STREET 1:** 1, KRASNOARMEYSKAYA UL
- **CITY:** MOSCOW
- **STATE:** 1Z
- **ZIP:** 125993
- **BUSINESS PHONE:** 011-007-495-221-8888

**MAIL ADDRESS:**
- **STREET 1:** 1, KRASNOARMEYSKAYA UL
- **CITY:** MOSCOW
- **STATE:** 1Z
- **ZIP:** 125993

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mechel OAO
- **DATE OF NAME CHANGE:** 20050801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mechel Steel Group OAO
- **DATE OF NAME CHANGE:** 20040903

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM 15F** 

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**CERTIFICATION OF A FOREIGN PRIVATE ISSUER'S TERMINATION OF REGISTRATION** 

**OF A CLASS OF SECURITIES UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934** 

**OR ITS TERMINATION OF THE DUTY TO FILE REPORTS UNDER SECTION 13(a) OR SECTION 15(d)** 

**OF THE SECURITIES EXCHANGE ACT OF 1934.** 

**Commission File Number: 001-32328** 

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## MECHEL PAO
**(Exact name of registrant as specified in its charter)** 

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**KRASNOARMEYSKAYA STREET 1** 

**MOSCOW 125167** 

**RUSSIAN FEDERATION** 

**+7-495-221-8888** 

**(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)** 

**Common Shares** 

**American Depositary Shares, each representing two Common Shares** 

**Preferred Shares** 

**Preferred American Depositary Shares, each representing one-half of one Preferred Share** 

**(Title of each class of securities covered by this Form)** 

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Place an X in the appropriate box(es) to indicate the provision(s) relied upon to terminate the duty to file reports under the Securities Exchange Act of 1934:

---

| | |
|:---|:---|
| Rule 12h-6(a) ☒ | Rule 12h-6(d) ☐ |
| (for equity securities) | (for successor registrants) |
| Rule 12h-6(c) ☐ | Rule 12h-6(i) ☐ |
| (for debt securities) | (for prior Form 15 filers) |

---

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**PART I** 

**Item 1. Exchange Act Reporting History** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Mechel PAO (the "**Registrant**") first incurred the duty to file reports under Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (the "**Exchange Act**") on or about October 29, 2004, the date that its registration statement on Form F-1 (File No. 333-119497) was declared effective by the Securities and Exchange Commission (the "**Commission**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Registrant has filed or submitted all reports required under Section 13(a) or Section 15(d) of the Exchange Act and the corresponding Commission rules for the 12 months preceding the filing of this Form 15F. The Registrant has filed at least one annual report on Form 20-F under Section 13(a) of the Exchange Act.

**Item 2. Recent United States Market Activity** 

The Registrant's securities were last sold on May 7, 2010 in the United States in a registered offering under the Securities Act of 1933, as amended, on Form F-3, filed April 27, 2010.

**Item 3. Foreign Listing and Primary Trading Market** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Registrant maintained a listing of its common shares on the Russian Trading System (the "**RTS**") and the Moscow Interbank Currency Exchange (the "**MICEX**") under the symbol "**MTLR**". The preferred shares were admitted to trading without listing on RTS and MICEX. In April 2011, the Registrant's preferred shares were listed on MICEX. RTS and MICEX ceased to exist as a result of their reorganization through accession to Public Joint-Stock Company "Moscow Exchange MICEX-RTS" ("**Moscow Exchange**"). The Registrant's preferred shares have been traded on the Moscow Exchange quotation list under the symbol "**MTLRP**". The **Moscow Exchange** constitutes the primary trading market for both the common shares and for the preferred shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Registrant's common shares and preferred shares were initially listed on the Moscow Exchange on October 8, 2008 and April 21, 2011, respectively. The Registrant has maintained its listing on the Moscow Exchange for at least 12 months prior to the filing of this Form 15F.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. During the 12-month period beginning on January 3, 2022 and ended January 3, 2023, 98% of trading in the common shares, and 99% of trading in the preferred shares occurred on the Moscow Exchange.

**Item 4. Comparative Trading Volume Data** 

The Company's trading volume data used to rely on Rule 12h-6(a)(4)(i) are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The recent 12-month period used to meet the requirements of Rule 12h-6(a)(4)(i) is January 3, 2022 to January 3, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. During the 12-month period beginning January 3, 2022 and ending
January 3, 2023, the average daily trading volume of the ADSs in the United States was 84,323 shares and the average daily trading volume of the common shares and ADSs, considered as a single class of securities, on a worldwide basis was
3,444,592 shares. During the 12-month period beginning January 3, 2022 and ending January 3, 2023, the average daily trading volume of the preferred ADSs in the United States was 6,898 shares and the
average daily trading volume of the preferred shares and preferred ADSs, considered as a single class of securities, on a worldwide basis was 1,084,881 shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. During the 12-month period beginning January 3, 2022 and ending
January 3, 2023, the average daily trading volume of the ADSs in the United States was 2.45% as a percentage of the average daily trading volume of the common shares and ADSs, considered as a single class of securities, on a worldwide basis.
During the 12-month period beginning January 3, 2022 and ending January 3, 2023, the average daily trading volume of the preferred ADSs in the United States was 0.64% as a percentage of the average
daily trading volume of the preferred shares and preferred ADSs, considered as a single class of securities, on a worldwide basis.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. On December 21, 2022, the New York Stock Exchange (the "NYSE") filed a Form 25 with the
Commission to delist the Company's ADSs from the NYSE as of January 3, 2023. On December 21, 2022, for the preceding 12-month period, the average daily trading volume of the ADSs and the preferred ADSs in
the United States were 2.70% as a percentage of the average daily trading volume of the common shares and ADSs, considered as a single class of securities, on a worldwide basis and 0.73% as a percentage of the average daily trading volume of the
preferred shares and preferred ADSs, considered as a single class of securities, on a worldwide basis, respectively.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Deutsche Bank Trust Company Americas notified the Company that it terminate its ADS and preferred ADS
facilities as of December 7, 2022. At such time, for the preceding 12-month period, the average daily trading volume of the ADSs and the preferred ADSs in the United States were 3.15% as a percentage of
the average daily trading volume of the common shares and ADSs, considered as a single class of securities, on a worldwide basis and 0.79% as a percentage of the average daily trading volume of the preferred shares and preferred ADSs, considered as
a single class of securities, on a worldwide basis, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. The Company used trading data from the Moscow Exchange (<u>www.moex.com</u>) and the NYSE (<u>www.nyse.com</u>)
to determine whether it meets the requirements of Rule 12h-6. The Company used the sources for trading volume information that it viewed as likely to have reliable information.

**Item 5. Alternative Record Holder Information** 

Not applicable

**Item 6. Debt Securities** 

Not applicable.

**Item 7. Notice Requirement** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Registrant published in the United States a notice of its intent to terminate its reporting obligations under Section 13(a) or 15(d) of the Exchange Act by means of press release issued on February 7, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Registrant disseminated the press release described above by Bloomberg LP, a newswire service, and it is filed as exhibit 99.1 hereto.

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**Item 8. Prior Form 15 Filers** 

Not applicable.

**PART II** 

**Item 9. Rule 12g3-2(b) Exemption** 

The Registrant will publish the information required under Rule 12g3-2(b)(1)(iii) on (i) its internet web site: *www.mechel.ru.* 

**Item 10. Exhibits** 

Exhibit 99.1 Press release dated February 7, 2023.

**Item 11. Undertakings** 

The undersigned issuer hereby undertakes to withdraw this Form 15F if, at any time before the effectiveness of its termination of reporting under Rule 12h-6, it has actual knowledge of information that causes it reasonably to believe that, at the time of filing the Form 15F:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the average daily trading volume of its subject class of securities in the United States exceeded 5 percent of the average daily trading volume of that class of securities on a worldwide basis for the same recent 12-month period that the issuer used for purposes of Rule 12h-6(a)(4)(i);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) its subject class of securities was held of record by 300 or more United States residents or 300 or more persons worldwide, if proceeding under Rule 12h-6(a)(4)(ii) or Rule 12h-6(c); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) it otherwise did not qualify for termination of its Exchange Act reporting obligations under Rule 12h-6.

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**SIGNATURE** 

Pursuant to the requirements of the Securities Exchange Act of 1934, Mechel PAO has duly authorized the undersigned person to sign on its behalf this certification on Form 15F. In so doing, Mechel PAO certifies that, as represented on this Form, it has complied with all of the conditions set forth in Rule 12h-6 for terminating its registration under Section 12(g) of the Exchange Act, or its duty to file reports under Section 13(a) or Section 15(d) of the Exchange Act, or both.

Date: February 7, 2023

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| | |
|:---|:---|
| **MECHEL PAO** | **MECHEL PAO** |
| By: | /s/ Oleg V. Korzhov |
| Name:<br> Title: | Oleg V. Korzhov<br> Chief Executive Officer |

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## Exhibit 99.1

**Exhibit 99.1** 

***Press Release – For Immediate Release***

**Mechel PAO Intends to Deregister and Terminate U.S. Reporting Obligations under the U.S. Securities Exchange Act of 1934** 

**<u>Moscow, Russia – February 7, 2023</u> – Mechel PAO (MOEX: MTLR, NYSE: MTL), one of the leading Russian mining and metals companies, reports that it intends to deregister and terminate its U.S. reporting obligations under the U.S. Securities Exchange Act of 1934 in respect of its common and preferred shares.** 

On December 6, 2022, the New York Stock Exchange (the "NYSE") notified Mechel PAO ("Mechel" or the "Company") that it determined to commence proceedings to delist the two securities of Mechel — MTL ADR (each representing two common shares) and MTL PR ADR (each representing one-half of a preferred share) — from the NYSE. Trading in the company's securities has been halted since February 28, 2022, and they were removed from listing as of January 3, 2023.

The NYSE determined that the company's securities are not suitable for listing pursuant to Section 802.01D of the NYSE Listed Company Manual in light of the announcements by Deutsche Bank, the depositary under the Company's ADR programs, of its intention to terminate the deposit agreements for the company's securities effective as of December 7, 2022.

As a result, the Company intends to file a Form 15F with U.S. Securities and Exchange Commission (the "SEC") on February 7, 2023 to deregister its common shares and preferred shares and terminate its reporting obligations under the Exchange Act. Thereafter, all of the Company's reporting obligations under the Exchange Act will be suspended from the date of filing the Form 15F unless the Form 15F is subsequently withdrawn or denied. If, within 90 days after filing the Form 15F, there are no objections from the SEC, deregistration and termination of the Company's reporting obligations under the Exchange Act will become effective.

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Mechel PAO

Ekaterina Videman

Tel: + 7 495 221 88 88

<u>ekaterina.videman@mechel.com</u> 

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Mechel is an international mining and steel company. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.

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Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the SEC, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.