| On November 12 the close corporation \"Pipe Metallurgical Company\" (TMK) has floated a supplemental issue of its shares. In accordance with the sale agreement on shares, TMK Steel Limited, the main shareholder of \"TMK\" close corporation, has purchased 873,000,000 of shares of \"TMK\" close c. at par value of 10 RUR per share. Thus, the deal amount in money terms equals 8,730,000,000 RUR, which is 42.73% of the issuer assets worth. The decision to increase the authorized capital stock by floating of supplementary shares has been taken on July 12, 2004. The issue of shares has been registered in FSFM of RF on August 31 under the number 1-01-29031-H-001D. The means collected from floating of a supplementary block of shares will be employed to increase the working capital and to finance investment projects at the Company\'s Plants. |
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