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Bagliy Coke?s AGM Votes For Charter Fund Increase.

Bagliy Coke?s AGM Votes For Charter Fund Increase.

21 December 2008

The company (BKOK) will double its charter fund by issuing 342.28 mln additional shares with a subscription price set equal to par, USD 0.05. Subscription will take place from February 20, 2005 to March 10, 2006. Concorde Capital: The company?s controlling shareholder, Privat group, confirmed yesterday that it intends to sell BKOK to a strategic buyer. We think this is why the company is now scaling down its tolling schemes, as evidenced by drastic improvements in its reported financials. Namely, in 9M05, BKOK reported a 570% yoy increase in sales, to USD 103.8 mln, and posted USD 5.5 mln in net income as opposed to a USD 1.3 mln loss in 9M04.

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