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27.06.2007  
  “Tatar-inform”,  
 

State to keep the share in «Nizhnekamskneftekhim» with its 15 times increase of issued capital


 
  The Republic of Tatarstan represented by the state-controlled holding OJSC “Svyazinvestneftekhim” would save its share in the issued capital of OJSC “Nizhnekamskneftekhim”. This information was reported by «&» agency with reference to the statement made by Prime minister of the Republic Rustam Minikhannov.
He said that “Svyazinvestneftekhim” was committed «in any case» to buy back the correspondent block of “Nizhnekamskneftekhim” shares when the additional issue of shares would happen. Rustam Minikhannov said that the decision on the additional emission was made on a legal basis and didn’t derogate from shareholders rights.
We remind that «Nizhnekamskneftekhim» shareholders approved the additional emission for RUR 25.78 during the extraordinary meeting on December 11, 2006. Thus, the company’s issued capital would be increased up to RUR 27.61 bln. The additional issue would be placed by closed subscription at par value (1 ruble per share) in favor of OJSC "Svyazinvestneftekhim" (28.63% from additional emission), LLC “Telecom-Management" (25.6% from additional emission) and "Nizhnekamskneftekhim-Management & Co” limited partnership (25% from additional emission). The obtained funds would be used for the realization of investment development program.
The issued capital of “Nizhnekamskneftekhim” is RUR1.83 bln. The largest shareholder of the company is «TAIF» Group of Companies, that controls 75.6 % of voting shares. This includes over 28.6% of shares that were received in trust management for 5 years period from «Svyazinvestneftekhim» and 21.4% – from "Nizhnekamskneftekhim-Management & Co” limited partnership. OJSC «Tatneft» controls 11.5% of voting shares. The individuals, or more than 12 thousand of shareholders, own 4.7% of shares. Other legal entities and nominal shareholders own 4.6% of shares.
 
 
 

 

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