February 7, 2011

Ukraine's Volodymyr-Volynska Poultry Farm to raise statutory fund

On January 28, stockholders of the Volodymyr-Volynska Poultry Farm decided to increase the statutory fund by UAH50 million (US$6.29 million) to UAH66.069 million (US$8.31 million) via the additional issue of shares.

The stockholders decided to issue 200 million simple registered shares in non-paper form with the face value of UAH0.25 (US$0.03) per share.

The placement of shares will be private.

According to the report, additional funds will be channeled for further development of the farm.

The Volodymyr-Volynska Poultry Farm ended 2009 with a net profit of UAH19.479 million (US$2.45 million), having increased net revenues by 46.46% or UAH83.425 million (US$10.49 million), compared to 2008 to UAH262.995 million (US$33.06 million).

Earlier, the Volodymyr-Volynska Poultry Farm, in the village of Fedorivka, Volyn region, is registered as an open joint-stock company.

The 72.56% stake in the Volodymyr-Volynska Poultry Farm belongs to the Farnaks limited liability company, Kharkiv region.