UMPO shareholders decided to increase the authorized capital by another 83.2 percent

UFA, 23 September 2014. /Bashinform News Agency, Elvira Latypova/. JSC "Ufa Engine Industrial Association" (UMPO) may increase the authorized capital by placing additional issue of ordinary shares in the amount of 460,83 million items with a par value of 1 ruble each. This decision was taken at a meeting of shareholders, which was held as absentee voting on September 18, according to the issuer.

Shares will be placed by closed subscription in favour of "United Engine Corporation". Shareholders, who voted against or did not participate in the vote on this issue have the preemptive right to acquire additional securities.

The offering price was 21.7 rubles per share for all purchasers. Consequently, UMPO can attract 10 billion rubles.

Recall that in the course of the last additional issue UMPO placed in favour of OPK "Oboronprom" 86,617,597 ordinary shares. Authorized share capital was thus increased by 18.5 percent - from 467.3 million rubles to 553.9 million rubles. As a result of the additional issue the new authorized capital may be increased by another 83.2 percent and exceed 1 billion rubles.

JSC "Ufa Engine Industrial Association" is the Russian largest manufacturer of aircraft engines. It is engaged in development, manufacturing, service and repair of turbojet engines and pumping units, production and repair of helicopters. It is included in the United Engine Corporation — a wholly owned subsidiary of JSC OPK "Oboronprom" on engine assets management.