OREANDA-NEWS. The Extraordinary General Meeting of shareholders of OAO "WGC-3" approved the increase of the Company's authorized capital through issuance of 18 billion additional ordinary shares, par value RUB1 per share.

The shareholders also adopted amendments to the Charter of OAO "WGC-3" to reflect the maximum number of additional shares authorized for issuance by WGC-3 (18 billion shares, RUB1 par value each).

The additional shares will be offered to the public. The Board of Directors of WGC-3 will determine the public offering price after the expiration of the pre-emptive right of WGC-3 shareholders to acquire the additional shares.

The company will use the proceeds from the sale of shares to finance its capacity expansion projects at the Cherepetskaya, Kharanorskaya, Yuzhnouralskaya, and Kostromskaya TPPs.