At their extraordinary meeting on August 25, the shareholders of OJSC GV Gold decided to restructure the company, GV Gold informed.
The company will be restructured through the takeover of CJSC Aldgold Mining Company and CJSC Tekhnoresurs in which GV Gold owns 100% equity stakes.
Gold mining company GV Gold (Russian: Vysochaishy, tax number: 3802008553) was founded in February 1998 by CJSC Lanta-bank and JSC Lenzoloto for the development of Homolkhino-Iligirskaya ore zone including the gold ore deposit Golets Vysochaishy in Bodaybinsky district of Irkutsk region. The company's major shareholders are members of the gold mining company's management.
According to the DataCapital information retrieval system, IFRS net profit of GV Gold for 2013 dropped 2.2 times to RUB 1.501 billion from RUB 3.298 billion in 2012. Revenue decreased by 11.06% to RUB 7.771 billion from RUB 8.737 billion, operating profit by 48.79% to RUB 1.983 billion from RUB 3.872 billion, pre-tax profit 2.07-fold to RUB 2.017 billion from RUB 4.169 billion.
According to the DataCapital information retrieval system, RAS net profit of OJSC GV Gold for H1 2014 grew by 84.02% to RUB 1.46 billion from RUB 793.374 million the year before. Revenue increased by 21.19% to RUB 4.031 billion from RUB 3.846 billion, sales profit by 10.47% to RUB 1.931 billion from RUB 1.748 billion, pre-tax profit by 86.69% to RUB 1.827 billion from RUB 978.635 million.