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OOO "Direct Investments" acquires 25% + 1 share of the gold mining holding JSC "Seligdar"
The Federal Antimonopoly Service granted the petition of the Moscow management company Direct Investments LLC to acquire 25% and one voting share in the Yakut gold mining OJSC Seligdar. At the moment, about 40% of the company's shares are owned by the Russian Funds investment group, about 30% - by the management and the same amount by Russian and foreign portfolio investors.
The decision of the meeting of shareholders to conduct an additional issue of 105 million ordinary uncertified registered shares with a par value of 1 RUB. each was approved by the Seligdar Board of Directors. This is 12% of the authorized capital, which currently represents 887 million 354 thousand rubles, of which 737 million 354 thousand are ordinary shares and 150 million are preferred. The cost of one ordinary share on the exchange, according to the company's report for the third quarter of 2014, was 3,898 rubles, and the preferred share was 28,5 rubles. 150 million shares will be placed by open subscription on the Moscow Exchange.
In terms of gold production, Seligdar is in the top-15 of the largest gold mining companies in Russia. Created in 2008 on the basis of the assets of the artel of the same name, the gold mining holding "Seligdar" unites 13 enterprises in Yakutia, Buryatia, Orenburg region, Altai Khabarovsk territory. Holding "Seligdar" has a license to study and develop 28 gold and placer deposits, 13 of which is already producing. However, the economic situation of the holding has deteriorated lately. According to the company's press release for January-September 2014, revenue fell eight-fold to 119 million rubles. Simultaneously, the company received 468 million rubles of net loss.