Uralcement to raise capita

Uralcement to raise capita
Published: 13 April 2005


At an AGM of Uralcement held in Pervomaysky Korkino of the Chelyabinsk region shareholders of the company made a decision to raise the authorized capital by 32.4 per cent from RUR308,452 to RUR408,452 and made changes to the articles of association, Uralcement told SKRIN. The charter capital will be increased by placing RUR100,000 common shares with a par value by open subscription worth a total of RUR100,000.  Price of placement of one stock was set by the BoD at RUR1,830. Shareholders of record as of April 5, 2005 will have the first option right for additional stocks.  The authorized capital is RUR308,452 at the par value of RUR1, in November 2003 75 per cent of shares were bought by Lafarge. In the next ten years Lafarge plans to invest $10m to $50m in Uralcement.  In 2004 Uralcement made more than 850,000 tons of cement.