The Board of Directors of JSC Ufa Engine Industrial Association decided to hold an extraordinary general meeting in absentia on September 18, the company reported.
The record date for the meeting is August 21.
The shareholders are expected to consider an increase in the company's authorized capital through a follow-on offering of common shares intended for private placement and to approve an interested-party transaction.
JSC Ufa Engine Industrial Association (UMPO, tax number: 0273008320), the largest engine building enterprise in the Russian Federation, was established in 1925. It includes two specialized production assets: an aircraft department and a tool department. Its basic activities refer to the manufacture, service maintenance and repair of turbojet aviation engines and gas compressor units, the production and repair of helicopter units.
The company's authorized capital is RUB 266.1 million represented by 266,106,022 issued common shares at par value of 1 ruble. UMPO is part of United Engine Corporation, a special purpose entity wholly owned by JSC OPK Oboronprom.
According to the DataCapital information retrieval system, IFRS net profit of Ufa Engine Industrial Association for 2013 grew by 76.15% to RUB 3.486 billion from RUB 1.979 billion for 2012. Revenue increased by 42.11% to RUB 38.699 billion from RUB 27.232 billion, profit from operations by 47.82% to RUB 4.179 billion from RUB 2.827 billion, pre-tax profit by 66.01% to RUB 3.805 billion from RUB 2.292 billion.
According to the DataCapital information retrieval system, RAS net profit of UMPO for H1 2014 increased by 39.43% to RUB 1.478 billion from RUB 1.06 billion the year before. Revenue went up by 14.91% to RUB 18.651 billion from RUB 16.231 billion, sales profit rose by 27.87% to RUB 4.386 billion from RUB 3.43 billion, pre-tax profit increased by 41.76% to RUB 2.169 billion from RUB 1.53 billion.