16 April, 2008
Abindex: “Kant Cement Factory” OJSC opens its first branch
Yesterday, on 15th April overall meeting of shareholders of the “Kant Cement Factory’ OJSC was held, the shares of this company were induced into the National index ABIndex.
Totally, 10 266 600 voted shares are in circulation, out of them the approximately 90% belong to one owner. But the Presidium of the overall meeting refused to announce the name of this owner, whom are belonged control packet of shares that contradicts Kyrgyzstan legislation about disclosure information by issuers about name of owners of more than 5% of shares. This situation caused disturbance wave from site of minor shareholders.
Than, there was the report of the Director General about results of company activity for 2007, that took only 2 minutes. The same report of authorized representative of Directors Board was listened by shareholders (none members of Directors Board took part in meeting). Only dividends payment subject was most positive part during the meeting, and did not cause any issues from minoritars.
As it was known, during shareholders meeting, “Vityaz” resort house located on the Issyk-Kul lake that belonged to the company also was sold to one of the Directors Board member. According to the acting Chief Accountant company assets balance cost, assigned for sale was accounted to 39 million soms.
As it was clarified, since 2005 the re-assessment of main assets of cement factory was performed, that was performed by the «Apprais Consult» ltd (Kazakhstan Republic). As result it was submitted the conclusion of assessment of assets on 1st January 2005 was 1 454,6 million soms, but balance cost of assets on 31st December 2007 was 1 305,15 million soms.
Also it was interesting other issue, current elected members of Directors Board and Audit Commission was presented by administration and staff of “Kaspiy recourses” (Kazakhstan Republic).
Last discussed subject was the opening of the branch of the “Kant Cement Factory” OJSC in Almaty city. Main object of branch is to sale of the factory production oh high price and in large values. Sale of production in Kazakhstan will increase the production import.
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