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MMK Illicha to increase charter fund 3.7x to UAH 3.1 bln

MMK Illicha to increase charter fund 3.7x to UAH 3.1 bln

21 June 2010

MMK Illicha (UX: MMKI UK) shareholders are slated to vote on increasing the company’s charter fund by 3.7x to UAH 3.1 bln via an additional share issue at their upcoming AGM on July 1, according to an agenda published on Friday. The funds are to replenish working capital. The announcement is widely viewed as linked to CEO Volodymyr Boyko’s announcement last week that his company was in talks on a merger with Metinvest Holding, Ukraine’s largest metallurgical group.

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