XXI Century to Increase Charter Fund by 25%

Ukrainian real estate developer XXI Century (XXIC LN: N/R) approved a 25% charter fund increase at its AGM held yesterday. As we reported earlier, the increase in the company’s charter fund is a technical measure in line with Cyprus law as the company is considering public placement of the additional shares on Warsaw Stock Exchange in 1H08. The Chairman of XXI Century’s Board Lev Partskhaladze noted that the additional shares will be issued in 2008 and confirmed the company’s plans to conduct SPO on a regulated market with the aim of expanding the company’s shareholder base and increasing the liquidity of its shares.