Alchevsk Coke To Increase Charter Fund By 14.2 Times.

At their AGM on September 23, 2005, Alchevsk Coke?s (ALKZ) shareholders approved an additional share issue that will increase the company?s charter fund by 14.2 times, to USD 149.1 mln. The company will issue 2.8 mln in ordinary shares with a par value of USD 0.05. The subscription price has been set equal to par. Subscription for the new shares is scheduled for November 14, 2005 ? March 31, 2006. Proceeds from the issue (USD 138.6 mln) will be used to finance the construction of a new coke battery with a capacity of 1 mln mt. The project?s total cost is estimated at USD 215 mln. The AGM decided not to pay dividends for 2004. Concorde Capital: We will release our adjusted target for the stock shortly.