DMK Dzerzhinskogo Steel To Increase Charter Fund by 2.4x

DMK Dzerzhinskogo Steel’s (DMKD: N/R) shareholders will consider an additional share issue that would boost its charter fund 2.4 times to USD 335 mln at their AGM scheduled for October 12, 2007. Subscription will be held from January 15 to October 31, 2008. Based on past issues, we expect shareholders will be able to subscribe on a pro rata basis and that the ex-rights date will coincide with the first subscription date. The market price technically adjusted to the new number of shares should be USD 0.165 per share.