The company is issuing a total of 4738472 shares with nominal value of UAH 276.6 (approx. USD 60). The shares are expected to be sold at par, which will provide the company with the investments of about USD 270.1 million. The payment for shares will be accepted solely in national currency or in hard currency at the rate of the National Bank of Ukraine as of the date of payment.

The shares will be placed in private and closed manner among the limited number of investors.

In particular, major company shareholders can subscribe for shares, such as Broswellio Ltd, owning 22.5178 % of the company’s statutory fund; Khimprom OJSC – 20.0158 %; Seiba Limited – 22.5178 %; S.T.С. Limited – 22.5178 %.

Besides, the shareholders defined the list of investors that will be able to purchase the shares of the additional issue: Forton Ltd OJSC, Eliodor OJSC /both from Ukraine/, as well as foreign companies, such as Bracelos Properties Corp. and Mirtala Business Corp.

According to the shareholders’ resolution, new companies can acquire any number of shares, even more than 10 % of the statutory fund of the CJSC. The number of acquired packets will be announced after the placement procedure.

The present shareholders will be able to exercise their priority right in stock buyback from 4 to 18 August 2008. At the second stage - from 20 to 22 August - new investors will be able to participate in the issue repurchase.

As of today, the company’s statutory fund is hardly over UAH 1 million (approx. USD 220,000).

The Telesystems of Ukraine CJSC is a CDMA-operator providing mobile communication services /ТМ PEOPLEnet/. The number of its subscribers is about 170,000 people.

Source: prime-tass.ru