Shareholders of Electromachine JSC refuse to raise authorized capital through additional share issue worth 1,500,000 RUR

31 July 2006 (11:16)

Shareholders of Electromachine JSC refused to raise the company’s authorized capital through an additional share issue worth 1,500,000 RUR. This decision was made at the annual general meeting.

The initial idea was to issue 1,500, 000 registered paperless shares with face value of 1 RUR per share, which would cost 200 RUR per share. Yet as the shareholders did not agree to the proposals, no such amendments were made to the company’s Charter.

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