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Vladivostokskiy morskoy torgovyi port OAO Approves Share Issue for Merger with Vladivostok Container Terminal-Interfax


Monday, 29 Jul 2013 02:57am EDT 

Interfax reported that the Supervisory Board of Vladivostokskiy morskoy torgovyi port OAO (VMTP) decided on July 26 to increase the Company's charter capital by issuing new shares that will be swapped for the common shares of Vladivostok Container Terminal (VCT). Both companies are part of the Fesco Transportation Group. The board decision calls for converting 28836394/1405998852 of one VCT common share with par value of RUB 10 into one new common VMTP share with par value of RUB 0.10. VMTP will issue 1,405,998,852 common shares. In the course of the merger with the terminal, VCT shares held by VCT and VMTP, as well as VMTP shares held by VCT will be canceled. 

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