Severnaya Kazna redistributes shares again

31 July 2007 (14:56)

Ural Avia raised its share in the bank’s authorized capital by .879%, acquiring some shares from Chairman Andrei Volchik. Prior to this, the company raised its share by 3% at the end of June 2007, whereas Mr. Volchik reduced his share in the bank’s authorized capital from 5.413% to 4.534% on July 26, 2007.

Mr. Volchik has numerously reduced or raised the number of his shares before; the last such change took place on June 29, 2007 when his share dropped from 8.413% to 5.413%.

On June 14, 2007 Andrei Volchik’s shareholding went up by .73% (from 7.691% to 8.413%). Mr. Volchik also reduced his share from 7.995% to 7.044%, or by .951%, in May 2007 and from 10.024% to 7.995% on April 25, 2007.

This information was published in compliance with the demand that an issuer and/or a joint stock investment fund must promptly reveal any information that could influence its stock price.

Experts have been commenting on both the changes in the number of the bank’s stockholders and the frequent redistribution of shares among current shareholders. Ural Avia, for instance, reduced its shareholding by 3% as recently as last week.

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