Acron Board of Directors resolved to hold an extraordinary general meeting on September 16, 2014.
The meeting of the Board of Directors approved the agenda for the extraordinary general meeting, which includes approval of a related-party transaction. The general meeting shall consider execution by Acron and its subsidiary Acronit of a share purchase (subscription) agreement covering an additional issue to be placed by Acronit. The value of the purchased shares will not exceed RUB 6.6 billion.
Сhairman of Acron Board of Directors Alexander Popov comments on the agenda item:
“The proposed increase in the authorised capital of the subsidiary shall optimise settlements inside the Group, which shall ultimately improve Acron Group’s financial performance.”
The record date for the persons entitled to attend the general meeting is the close of business on July 30, 2014.