Poltava Iron Ore AGM To Consider 22% Charter Fund Increase

The agenda for Poltava Iron Ore (PGOK: U/R)’s December 7 AGM includes consideration of a 22% charter fund increase by USD 50.4 mln to USD 280.2 mln, according to Interfax. Subscription will take place at par value (UAH 9.96 per share) from December 26, 2007 to January 15, 2008. Based on past issues, we expect that the ex-rights date will coincide with the first subscription date and that shareholders will be able to subscribe on a pro rata basis.