At its session on August 21, the Board of Directors of OJSC Raspadskaya made a decision to convene an extraordinary general meeting on October 23. According to the company's statement, the record date will be September 9.
The Board of Directors also approved the company's financial report, considered the budget performance report for H1 2013, approved the adjusted H2 2013 budget and a number of corporate by-laws.
At the meeting, the shareholders are expected to approve the restated charter and to consider the remuneration to the Chairman of the Board of Directors.
OJSC Raspadskaya (tax number: 4214002316) unites several enterprises of a single territorial production complex in Kemerovo region: three mines including CJSC Koksovaya acquired in April 2010 which was affiliated with the mine Raspadskaya Koksovaya (currently under construction) in February 2011; one open-pit mine, a beneficiation factory as well as enterprises of the transport and production infrastructure. Corber Enterprises Limited owned on a parity basis by the management of OJSC Raspadskaya and Evraz Group S.A. holds 80% of Raspadskaya's common shares.
IFRS net loss of Raspadskaya for H1 1013 grew 3.65-fold to $67.73 million from $18.581 million the year before. Revenue increased by 6.37% to $295.925 million from $278.201 million, operating loss 14.18 times to $61.034 million from $4.304 million, loss before tax by 14.33% to $23.23 million from $20.318 million, adjusted EBITDA decreased 3.67-fold to $27 million c $99 million, EBITDA margin was 9% against 35%.
"AK&M", 23.08.2013 10:24