Krasnodonugol Coal Mine To Increase Charter Fund.
30 June 2008
On August 17, 2006 the company’s shareholders will vote on an additional share issue of 1.2 bln shares. After the issue Krasnodonugol’s charter fund will increase by 25% to almost USD 297 mln (UAH 1.475 bln). The planned subscription period for the additional share issue is first stage: Oct. 18 – Nov. 1; second stage: Nov. 2 – Nov. 3. Eugene Cherviachenko: We believe the funds will be used for re-equipping and modernizing the mine, which is good news for domestic coal machinery producers. Roughly 99% of Krasnodonugol is controlled by System Capital Management’s Avdiyivsky Coke Plant.
