Sarmatia increases authorised capital
Azerbaijan, Baku, July 6 / Trend E.Ismayilov /
Sarmatia participants have adopted an action plan for this year, General Director Sergei Skripka told Trend on Friday.
"We have held two meetings of shareholders of the company, during which it was decided to increase the authorised capital, reports on the results of activities in 2011 approved. A work plan for 2012 was also approved," Skripka noted.
The general meeting of shareholders decided to increase the authorised capital of the company from 20.06 million zlotys, that is by 60,000 zlotys, through the formation of 120 new shares at 500 zlotys each.
Additional investment in the authorised capital are provided to implement the tasks associated with the preparation of the project "Construction of Brody - Plotsk oil pipeline" with the possibility of future transportation of oil to Gdansk or in a westerly direction.
Sarmatia was created by Ukrtransnafta and the Polish PERN Przyjazn company on July 12, 2004 to attract investments to design and complete the Odessa-Brody oil pipeline to Plotsk.
Sarmatia shareholders are the State Oil Company of Azerbaijan (SOCAR), the Georgian Georgian Oil and Gas Corporation Ltd. (GOGC), Ukrainian Ukrtransnafta, the Polish Przedsiebiorstwo Eksploatacji Rurociagow Naftowych Przyjazn SA and Lithuanian AB Klaipedos Nafta with equity participation of 24.75 percent of the major shareholders and one percent - a Lithuanian company. Currently, the authorised capital of the company amounts to 14 million PLN.
The official exchange rate is 3.4057 PLN to $1 on July 6.