OREANDA-NEWS. Chervonoarmiyskaya Zakhidnaya Mine's (SHCHZ) shareholders failed to approve a 119% share issue at their EGM on October 19, Alfa Capital Ukraine reported. The company planned to issue an additional 1 bln shares at a nominal value of UAH 0.25 ($0.049) per share. According to the experts, the failure to approve the issue is connected to the recent growth in SHCHZ's share price (up 70% in the last week), which is why the company may be considering issuing additional shares at market price ($1.48/share) rather than at par.