| He will acquire part of the plant’s additional share issue The head of the Sibal group, Oleg Deripaska, continues his expansion in the Russian automobile industry. On September 27, the Federal Securities Commission registered an additional issue of shares of Ural Automobile Plant OJSC (Miass, Chelyabinsk region). As a result of the placement of securities, the authorized capital of the enterprise will increase by 50.9%. One of the buyers of the new shares will be Ruspromavto LLC, a subsidiary of Sibala.
The Ural Automobile Plant is based on the facilities of the bankrupt Ural Automobile Plant (UralAZ), which owns 100% of the company's shares. Its design capacity is 35 thousand cars annually. In 2001, Ural intends to produce about 10 thousand cars.
Sibal has been negotiating the takeover of Ural for a long time. In April of this year, the head of the company, Oleg Deripaska, signed an agreement with the governor of the Chelyabinsk region, Pyotr Sumin, to allocate 500 million rubles for the needs of the plant. In July, it was decided to increase this amount to a billion rubles.
Representatives of Ural, the Ruspromavto company and the regional administration, for various reasons, refused to comment on the upcoming additional issue. The head of the public relations department of Ruspromavto, Sergei Chernykh, only said that his company would most likely buy no more than 20% of the shares of Ural, since it does not yet have permission from the Ministry of Antimonopoly Policy to consolidate a larger stake. Nevertheless, it cannot be ruled out that as a result of the additional issue, Sibal will receive a controlling stake in the enterprise. According to data posted on the FCSM server, two more structures will participate in trading in Ural securities: CJSC Trading House UralAZ (now renamed TD Uralavto) and LLC Enterprise for Support of Transport and Trade Organizations. The Vremya Novostei newspaper was unable to find out anything about the owners of these companies. Sibal and Ruspromavto neither confirmed nor denied ties with applicants for the purchase of Ural shares.
The decision to conduct an additional issue of Ural shares was made back in the summer. On July 13 of this year, at an extraordinary meeting of shareholders, changes were made to the company's charter, which allow Ural to increase its capital by 3 billion rubles. by placing 300 thousand shares with a par value of 10 thousand rubles. On July 18, another extraordinary meeting of shareholders decided to issue 127,154 shares with a par value of 10 thousand rubles. The placement of securities will be carried out by private subscription, and the redemption will be at par. New shareholders will pay 50% of the price of the securities upon purchase, the rest - a year from the date of their acquisition.
Thus, as a result of the additional issue, the plant will raise 1.272 billion rubles. However, this amount will not allow UralAZ to fully pay off its creditors, to whom the bankrupt plant owes 5.8 billion rubles. The additional issue of the remaining 173 thousand authorized shares will also not allow to completely “close” all the company’s accounts payable. The company does not say how UralAZ plans to pay off creditors. Maya KVASKOVA, Dmitry SIMAKOV |
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