OREANDA-NEWS. On July 04, 2008 PJSC "Azovstal Iron & Steel Works" stockholders’ meeting made a decision to increase the statutory fund of the enterprise (SF) up to 1,051,000,000.00 UAH or by 2,426,068. 00 UAH by means of the additional share issue, reported the press-centre of Azovstal.

The attracted funds are decided to be directed to the further development of the joint-stock company.

An insignificant increase of PJSC "Azovstal Iron & Steel Works" statutory fund as at some other enterprises of Metinvest Group is a part of one more restructuring stage completion of SCM Company mining & steel business.

The statutory fund increase is held at the cost of additional money contribution by means of private (only among the stockholders) allocation of 9 704 272 simple registered shares with nominal cost 0,25 UAH each. Private allocation of PJSС "Azovstal Iron & Steel Works" shares will be made by two stages: the first stage – from 15.09.08 till 06.10.2008 inclusively, the second stage – from 07.10.2008 till 10.10.2008 inclusively.

At the first stage of allocation the stockholders realize their right if priority to purchase shares of additional issue in the quantity proportional to their share in the company statutory fund as of the date of stage start. During the second stage there will be an allocation of shares among the existing stockholders of PJSС "Azovstal Iron & Steel Works" in the quantity, not realized during the first stage of the private shares allocation.

All the stockholders of PJSC "Azovstal Iron & Steel Works" have equal right of priority to purchase shares, which are decided to be privately allocated.

Also the decisions concerning the changes in the Supervisory Board and Audit Commission of the company were accepted at the PJSC "Azovstal Iron & Steel Works" stockholders’ meeting.