Luch’s shareholders said no to authorities

• 24.10.2012, 8:34

The decision about an additional equity issue was not made.

Special shareholders meeting of the Luch public company was held on 23 October. At the meeting most of the stakeholders spoke against having an additional equity issue. The chairman of the supervisory board of the enterprise Georgi Badzei reported about that.

“The decision about an additional emission didn’t make it. There were not enough votes, approximately 9%”, - he noted.

As for another question – considering investors’ applications – the general assembly decided that “the suggestion from a Chinese company corresponds to all the Luch’s demands”. Badzei didn’t specify which Chinese company can become a Luch’s investor, the Business-news agency reports.

He also confirmed that the investor doesn’t so far have an opportunity to take a share of the Luch’s issued capital as a moratorium was impose on the shares in stock. In what was the cooperation with the investor will be organized. According to Badzei, the shareholders will decide that.

“But there is someone else apart from the shareholders who can decide”, - Badzei added.

We would remind that the state hatches a plan for acquiring 25% of the company’s shares.

The supervisory board was suggested to make a decision about an additional equity issue. The event could have gone the same way they did in the confectionary industry recently. Since the state, which wants to acquire the blocking shareholding, didn’t even introduce its own investment package.