COMMISSION ON REGULATION OF PUBLIC SERVICES ALLOWS ARMROSGAZPROM TO INCREASE GAZPROM’S STAKE IN ITS AUTHORIZED CAPITAL BY $413.8MLN

arminfo
2008-08-06 16:51:00

ArmInfo. The Commission on Regulation of Public Services of Armenia
has allowed ArmRosgazprom CJSC to increase its authorized capital
by 124.154bln AMD ($413.8) to 402.195bln AMD ($1.341bln) by issuing
additional shares.

Gazprom has been allowed to buy 24,700,000 ordinary nominal shares
at 5,026 AMD each. The money received from the sale of the shares
will be spent on ArmRosgazprom’s energy projects in Armenia.

For the moment, the authorized capital of ArmRosgazprom totals
278,040,807,288 AMD ($927mln). Gazprom has 72.16% stake in the
authorized capital of ArmRosgazprom, the government holds – 22.78%,
ITERA Group – 5.06%. ArmRosgazprom was set up in Dec 1997 and is the
exclusive importer of natural gas into Armenia.