On July 3, SUEK Plc (Cyprus) acquired 85.54% of the authorized capital of OJSC Primorskugol, the latter company informed.
At the same time, CJSC Coal Company of Primorye withdrew from Primorskugol selling its 85.54% equity stake connection on account of its liquidation. It will be recalled that the closedown entry for the coal mining company was made in the Unified State Register of Legal Entities on February 17, 2014.
CJSC Coal Company of Primorye (Moscow, tax number: 7725806633) was established on September 24, 2013 as OJSC Siberian Coal Energy Company (SUEK) was restructured through the spin-off of six companies from it. During the restructuring, SUEK shares were converted into the shares of the newly established companies and distributed between the shareholders.
The company's authorized capital is RUB 17.673 billion represented by 17,673,103,000 common shares with a face value of 1 ruble each. On October 22, 2013, 84.54% of the authorized capital of OJSC Primorskugol was transferred to Coal Company of Primorye.
OJSC Primorskugol (tax number: 2540016954) established on the basis of SUEK assets in Primorsky Krai, is engaged in the production and sales of coal.
According to the DataCapital information retrieval system, RAS net profit of OJSC Primorskugol for 2013 grew by 5.42% to RUB 175 million from RUB 166 million in 2012. Revenue increased by 23.85% to RUB 5.256 billion from RUB 4.244 billion, sales profit 6.7-fold to RUB 335 million from RUB 50 million, pre-tax profit by 95.86% to RUB 331 million from RUB 169 million the year before.
SUEK Plc (SUEK) is the sole shareholder of OJSC Siberian Coal Energy Company.
OJSC Siberian Coal Energy Company (SUEK, tax number: 7708129854) is the largest coal association in Russia in terms of coal output. The company accounts for over 30% of the coal supplies to the domestic market and more than a quarter of the Russian coal exports. SUEK's branches and subsidiaries operate in Zabaykalsky, Krasnoyarsk, Primorsky and Khabarovsk Krais, Kemerovo region, republics of Buryatia and Khakassia.
The company's sole shareholder (100% of the authorized capital) is SUEK PLC.
IFRS net profit of SUEK for 2012 grew by 20.72% to RUB 30.018 billion from RUB 24.866 billion the year before. Revenue increased by 4.91% to RUB 175.214 billion from RUB 167.013 billion, profit from operations decreased by 11.09% to RUB 34.548 billion from RUB 38.856 billion, pre-tax profit grew by 14.52% to RUB 35.833 billion from RUB 31.29 billion.
According to the DataCapital information retrieval system, RAS net profit of SUEK for 2013 decreased 4.94-fold to RUB 3.536 billion. Revenue went down 35.44% to RUB 68.978 billion from RUB 106.85 billion, sales profit grew by 56.52% to RUB 2.822 billion from RUB 1.803 billion.