SIBUR prepares additional share issue for Gazprombank
MOSCOW. Nov 12 (Interfax) - OJSC SIBUR Holding's board of directors have decided to call an extraordinary shareholders meeting to decide on boosting the company's charter capital through an additional share issue by closed subscription, SIBUR said in a statement.
SIBUR said that the meeting would take place by mail-in ballot, which will be closed by November 25.
The meeting will also vote on a new shareholder issue that would be offered to Gazprom Bank and CJSC Gazprombank-Asset Management.
It was earlier reported that SIBUR's current shareholders were deciding on earmarking funds accumulated as dividends for 2008 for an injection into the charter capital. Total dividends came to 8.7 billion rubles.
A source close to SIBUR's shareholders told Interfax that the total additional issue has yet to be approved. The source added that the issue would likely be equal to the size of the company's dividends.
As a result, SIBUR's charter capital could increase by around 20%.
The source said that the company's current shareholders would purchase the entire additional share issue.
At present, Gazprombank owns 94.99% of the shares in SIBUR. The remaining 5% have been reserved on SIBUR's own balance for the implementation of an option program.