13 Nov 2010 14:18

Alexander Orlov sells portion of GDRs in WBD for $6.9 mln

MOSCOW. Nov 13 (Interfax) - Alexander Orlov, a member of the board of directors at OJSC Wimm-Bill-Dann Foods , has reduced its stake in the company's charter capital by selling off a portion of his GDRs (global depository receipts).

WBD said in a statement that Orlov's total stake has dropped form 3.12% to 2.96%. His common share stake remained the same at 2.73% while his GDR packet has been reduced from 0.39% to 0.23%.

WBD's charter capital consists of 44 million common shares. One share equals four GDRS. Orlov's sale of 0.16% equals around 280,000 GDRs. The quotation for one GDR in WBD stood at $24.65 at the close of trades on the New York Stock Exchange (NYSE) on November 12. Therefore, the market value of Orlov's share sale came to around $6.9 million.

Wimm-Bill-Dann Foods is one of the top producers of dairy and juice products in the Russian Federation, with 36 production outfits in both Russia and elsewhere in the CIS and sales outlets in 26 cities.

The company's founders own 40.9% in WBD's charter capital. In addition to Orlov, Gavril Yushvayev owns 19.6% in WBD, including 2.361% in ADRs (American depository receipts), David Yakobashvili - 10.5% (1.8%), Mikhail Dubinin - 4.11% and Sergei Plastinin - 3.6%. Around 40% of the shares in WBD are traded on the New York Stock Exchange (NYSE) as ADRs (American Depository Receipts).