This October 26, “Nizhnekamskneftekhim” INC Board of Directors held its session. Among other issues, the session reviewed calling of an extraordinary general conference of shareholders by way of absent voting to make a decision on increasing the authorized capital stock by floating additional ordinary nominal shares in order to obtain cash means, indispensable for the Company to implement a long-term investment program of development.
The date for the extraordinary general conference of “Nizhnekamskneftekhim” INC shareholders will be 11 December 2006.
During the discussion, there were defined the basic parameters in augmenting the authorized capital stock of “Nizhnekamskneftekhim” INC by floating additional ordinary nominal shares through closed subscription among all the holders of “Nizhnekamskneftekhim” INC ordinary nominal shares as per the shareholders register figures at 26 October 2006, viz: number of additional ordinary nominal shares for floating – 25 780 096 000 (twenty five billion seven hundred and eighty million ninety six thousand) of face value 1 (one) ruble each; floatation price for “Nizhnekamskneftekhim” INC additional ordinary nominal shares – 1 ruble for each share; paying up by cash means.
The session also defined other indispensable conditions to call and hold an extraordinary general conference of “Nizhnekamskneftekhim” INC shareholders in compliance with the requirements of the RF current legislation.