Chairman of Severnaya Kazna cuts back on his share of company’s stock again

17 September 2007 (08:38)

Andrei Volchik, Chairman of Severnaya Kazna, has once again sold a portion of the company’s stock. His share in the enterprise’s authorized capital went down from 4.534% to 1.687%. As a result, the company got a new shareholder through General Director Maxim Kostyuk’s acquiring Mr. Volchik’s shareholding. Mr. Kostyuk’s share in the company’s authorized capital now comes to 2.847%.

Mr. Volchik has numerously reduced or raised the number of his shares before; the last such change took place on July 26, 2007 when his share in the company’s authorized capital was reduced from 5.413% to 4.534%. Prior to this, on June 29, 2007 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.

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