ARMRUSGASPROM COMPANY ANNOUNCES FOLLOW-ON ISSUE OF SHARES FOR $548.8 MILLION
ArmInfo
2009-06-23 19:18:00
ArmInfo. ArmRusgasprom announced follow-on issue of shares for $548.8
million in 2006-2008, Karen Karapetyan, Chairman of Board -Director
General of ArmRusgasprom CJSC, told ArmInfo.
The follow-on issue increased the authorized capital of the company
nearly to $1 billion, he said. The share of Gazprom OJSC in the
authorized capital of the company grew from 50% to 80% and the share
of the government fell from 50% to 20%. The funds were invested in
big projects, particularly, in construction on Iran-Armenia gas
pipeline and modernization of the 5th power unit of Hrazdan TPP
(Hrazdan-5). K. Karapetyan said modernization of Hrazdan-5 will be
completed in 2010.
ArmRusgasprom General Assembly of Shareholders was held on June 22. The
company reported that the Assembly took note of the resolution by the
Revision Commission on revision of the financial and economic activity
of ArmRusgasprom CJSC for 2008 and approved annual report and balance
sheet of the company. The activity of the company was discussed as
well. The shareholders highlighted the positive results of dynamic
development and the achievements that created serious preconditions
for ArmRusgasprom Company to extend positions and prove its authority
of a reliable business partner.