UMH subsidiary to consider 5x charter fund increase

At their EGM on September 26, shareholders of CJSC Ukrainian Media Holding, United Media Holding’s (A65 GF: BUY) 100% subsidiary, will consider increasing the company’s charter fund by 5x to USD 0.4 mln via an additional share issue. The company plans to issue 16 ths shares at par, USD 20.6 per share. Subscription will be held in two stages: (I) from October 20 to December 16; (II) from December 17 to December 19. Olha Pankiv: We view the charter fund increase as technical in nature. The company’s management told us that no change in shareholders is planned. The funding will be provided by the parent, United Media Holding.