CJSC Ilyich - Steel will not pay disintections

In parallel with the historical meeting of shareholders of the Ilyich MMK, on ​​Thursday, a meeting of participants in Ilyich -Steel CJSC was held on Thursday. At the meeting, it was decided not to pay dividends following the results of work in 2009 and send all the net profit in the amount of 57.515 million UAH to the reserve fund.

The shareholders decided to increase the authorized capital of the company and announced an additional issue of shares with the amount of 724 138 870 pieces with a nominal value of 1 hryvnia each. The implementation of additional supplies is planned in the period from August 2 to 21 of the current year. Promotions of shares were entrusted to the "United Registration Company".

The meeting approved the annual report on the results of financial activities and decided to approve the plan for the distribution of profits for 2010. At the same time, net profit is scheduled for 79.7 million UAH, which is supposed to be sent to the reserve fund (39.85 million UAH) and the dividend payment fund (39.85 million UAH).

Ilyich-Stal CJSC, the main shareholder of OJSC Mariupol Metallurgical Plant named after Ilyich "of one of the largest metallurgical enterprises in Ukraine. According to the company, Ilyich-Stal CJSC, owns 90.41% of the shares of MMK named after Ilyich.