YGOK EGM held on July 8.

The schedule of the EGM was identical to the previous AGM held on April 26. At the EGM, Yuzhny GOK (YGOK: BUY) increased its Charter Fund by USD 210 mln to USD 310 mln. The period of subscription for the new shares will be from Aug 22 till Sep 9, 2005. Concorde Capital: The first additional shares issue was not registered at the State Security Commission due to the State Property Fund?s appeal to the Kiev Economic Court to block Charter Fund increases in companies that were privatized from Ukrrudpom. Due to the fact that the subscription period expired and subscription was not fulfilled, YGOK’s shareholders decided to accept a repeated decision about Charter Fund increase by appointing a new period of subscription. However, we believe that SPFU will appeal this decision in court as well.