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Aeroflot Shareholders Approved An Additional Issue Of Up To 1.7 Billion Shares

Aeroflot Shareholders Approved An Additional Issue Of Up To 1.7 Billion Shares

Aeroflot shareholders approved an additional issue of up to 1.7 billion shares, the company's press service reported.

"The shareholders decided to approve the increase in the authorized capital by placing additional shares in the amount of up to 1,700,000,000 units by open subscription," the report says.

"The extraordinary meeting of shareholders also decided to amend the Charter to increase the number of declared shares from the current 250,000,000 to 1,950,000,000. ("Declared shares" means the number of shares determined by the Charter that the joint-stock company may place in addition to the placed shares). The change will take effect after the changes to the Charter are registered with the Federal tax service. The parameters for the placement of additional shares, including the sale price of one share, will be determined later by the Board of Directors of Aeroflot, "the airline also notes.

Currently, the authorized capital of Aeroflot consists of 1,110,616,299 shares. Thus, in case of full placement of the additional issue number of shares will increase to 810 2 616 299, which is two and a half times, and the amount of emission corresponds to 60.5% of the enlarged share capital.

As previously indicated in the government's order, according to the presidential decree, the Federal property management Agency, the Ministry of Transport, and the Ministry of Finance need to issue additional shares of Aeroflot by open subscription, ensuring that Russia's share in the authorized capital remains at least the current 51.17%.

The main owner of Aeroflot is the state with a 51.17% share. Rostec State Corporation owns 3.5% of the airline's shares. The remaining shares belong to institutional investors, individuals, and the company's management.

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