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Uzbekneftegaz registers new issue of shares
Tashkent, Uzbekistan (UzDaily.com) --
Uzbekneftegaz registered a new issue of shares, envisaging conversion of 519,856 ordinary shares of shareholders, except the state shares, into preferred shares of the company with a fixed amount of annual dividends.
The conversion of shares is carried out in order to implement the resolution of the President of Uzbekistan from 17 October 2016 “On measures to further improve corporate governance in joint stock companies with a predominant share of the state”.
According to the document, the list of joint-stock companies, where 100% of common shares belong to the state, includes Uzbekneftegaz, Uznatsbank, NMMC, Uzbekiston Havo Yullari, Uzbektelecom and others.
Authorized capital of Uzbekneftegaz is 14.41 trillion soums and is divided into 14.41 billion shares, with a nominal value of 1,000 soums each.
Considering the need to implement the resolution of the President of Uzbekistan, guided by the requirements of Art. 40 of the Law "On Joint Stock Companies and Protection of Shareholder Rights", Uzbekneftegaz will purchase its shares at the price of 6,157 soums a share, taking into account the recommendations of the valuation organization Grant Thornton Valuation.
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