Stakhaniv Wagon plans threefold charter fund increase

Stakhaniv Wagon (SVGZ) shareholders will vote on a threefold charter fund increase to USD 32 mln via an additional share issue at their AGM on January 26, 2009. If approved, subscription would run from April 6 to May 6, 2009. Proceeds are planned to be used to bolster working capital. As with past share issues by the company, the requirements for subscription are likely to again be stringent, such as applications having to be submitted in person by a representative (see our Stakhaniv Wagon share issue alert of May 28, 2008), we will continue to monitor news related to the company’s plans.