Abramovich, partners increase stakes in Evraz after conversion of warrants
MOSCOW. Jan 31 (Interfax) - Roman Abramovich and his partners, who control Evraz plc through Lanebrook Ltd., have increased their stake in the steel and mining group following the conversion of warrants into common shares, information on the company's website shows.
Abramovich's stake has increased from 30.99% to 31.31%, as the number of shares owned by him has risen from 456,310,736 to 471,675,808.
Alexander Abramov, who previously owned 317,300,488 shares or 21.55%, now owns 328,620,382 or 21.81%.
Alexander Frolov now owns 164,095,485 shares of 10.89%, up from 158,442,915 or 10.76%; and Yevgeny Shvidler owns 46,864,423 shares or 3.11%, up from 45,257,031 or 3.07%.
Lanebrook, have realized 33,944,928 warrants, increased its total stake from 63.46% to 64.28%, or 968,385,484 common shares.
The warrants were issued as part of the group's purchase of a 50% stake in Corber Enterprises Limited, the principal shareholder of coal miner OJSC Raspadskaya , which was equally owned by Evraz and Raspadskaya management. Upon completion of the deal, Evraz acquired indirect ownership of 82% of Raspadskaya, while the sellers - Raspadskaya CEO Gennady Kozovoy and board director Alexander Vagin, through Adroliv Investments Limited - acquired more than 11% of shares in Evraz in exchange for the warrants (the owner of which was Lanebrook).
Kozovoy now owns 83,751,827 shares or 5.56%, and Vagin owns 82,887,014 or 5.5%.
Evraz plc, a major vertically integrated steel and mining company, has operations in Russia, the United States, Italy, the Czech Republic, South Africa and Ukraine. The group's largest beneficiary is billionaire Roman Abramovich.
The group's charter capital consists of 1,506,527,294 common shares with par value of $1, having increased by 2.3% following the conversion.