Malik Gaisin received the right to buy more than 40 thousand shares of Uralkhimmash

While the Ural businessman Malik Gaisin is fighting in the courts to maintain control over the largest Ekaterinburg enterprise - the Ural Chemical Engineering Plant (OJSC Uralkhimmash), the board of directors of the OJSC has set in motion the process of placing additional shares of the asset. As previously reported, we are talking about the placement of 4.9 billion securities worth 1 ruble each. Currently, the authorized capital of Uralkhimmash consists of 211 thousand ordinary shares, each of which costs 1 ruble. Malik Gaisin’s share is about 20% of the asset. The remaining shares are controlled by Gazprombank.

As follows from the decision of the board of directors of Uralkhimmash, the upcoming additional issue was approved on August 29. Its potential buyers may be: Gazprombank, CJSC Gazprombank - Asset Management, CJSC Forpost-Holding, LLC Inter Capital, LLC Staffleasing, CJSC Khimmash Group, JSC United Machine-Building Plants (Uralmash-Izhora Group )". All these structures are controlled by Gazprombank.

According to the published message, neither Malik Gaisin, a member of the board, nor his authorized representative Natalya Goncharova, who is also a member of the board of directors, took part in the meeting of the board of directors. Such non-participation gives Gaisin, as a shareholder, a preemptive right to participate in the additional issue, but only for the volume of shares that he already owns (this rule was prescribed in the decision). That is, Gaisin can buy back approximately 42 thousand ordinary securities in addition to the 42 thousand ordinary shares he already has, and then he will become the owner of 84 thousand shares. But after the additional issue, this volume of securities will amount to only thousandths of a percent.

Perhaps Malik Gaisin will challenge this decision of the board of directors of Uralkhimmash.