Sumy Frunze Machine-Building (SMASH) To Increase Charter Fund By 200%

The increased charter fund will grow to USD 402.4mn. The company intends raise the money through the issue of 142.17 mn common shares at a par value of USD 1.89. The subscription will be conducted from June 13 to July 11. Shareholders will have priority purchasing power to buy the additional stock proportionally to their existing shares in SMASH?s charter fund. The increased charter fund will be voted for at a shareholders meeting on April 15. The company?s sales were USD 175.7mn in 2003l, while net losses amounted to USD 17.7mn.