OREANDA-NEWS. On May 2014 NPO Saturn held an extraordinary general shareholders meeting with the agenda of increasing the company's charter capital and approving several transactions being of interest to the company.

The extraordinary general NPO Saturn shareholders meeting adopted a resolution to increase the NPO Saturn charter capital by issuing 24 000 000 000 (twenty four billiard) additional ordinary shares through closed subscription and approve the transitions in which the company had an interest.

The management bodies of the issuer chose the way of closed subscription for issuing the additional stock involving the OBORONPROM united industrial corporation, United Engine Corporation, Rostec - a state corporation for the facilitation of development, production and export of high-technology industrial products and the Russian Federation represented by the Federal agency for the management of state property.

The cost of issuing the additional shares emitted through closed subscription (including the preferential right of acquiring the newly issued stock): 1 ruble per 1 nominal share.

In the course of the extraordinary general NPO Saturn shareholders meeting, transitions were approved with regard to the acquisition of NPO Saturn's shares by the OBORONPROM united industrial corporation, United Engine Corporation, Rostec - a state corporation for the facilitation of development, production and export of high-technology industrial products and by the Russian Federation represented by the Federal agency for the management of state property.

Subject of transitions: not more than 24 000 000 000 nominal ordinary NPO Saturn shares.

Price of transactions: not more than 24 000 000 000 rubles.

The NPO Saturn Research and Production Association (OJSC) is an engine-building company specialized in the design and development, production and after-market support of gas turbine engines for military and civil aviation, naval ships and power-generating plants and gas-pumping units. The association is part of the Russian union of mechanical engineers all-Russian public organization whereby the regional branch is headed by I. N. Fedorov, NPO Saturn CEO.

NPO Saturn is part of United Engine Corporation (OJSC) and acts as the leader of the Civil Engines Division, a business unit of UEC founded on 09.10.2012 as a result of integration of the following companies: NPO Saturn (OJSC), Aviadvigatel (OJSC), PMZ (OJSC), Metallist-PM (CJSC), Energetik-PM (OJSC), REMOS-PM (CJSC), Motoservis-PM (CJSC) and Zheleznodorozhnik-PM (CJSC).

United Engine Corporation (OJSC) is a subsidiary of the OBORONPROM UIC (OJSC). The UEC structure integrates over 85% of Russia's leading companies specialized in the design and development, serial production and after-market support of gas turbine machinery as well as the key enterprises - the industry's integral players. One of UEC's prioritized fields of activity is the implementation of comprehensive programs of development of the companies in the industry by introducing new technologies meeting the world-class standards.

The OBORONPROM United Industrial Corporation (OJSC) is a multi-field machine-building group created in 2002. It is part of Rostec. The main fields of activity are helicopter building (the Russian Helicopters holding), engine building (the UEC holding) and other assets.

The Rostekhnologii State Corporation (Rostec) is a Russian corporation established in 2007 in order to facilitate the development, manufacturing and export of high-technology industrial products of military and civil purposes. Today it comprises over 663 companies, which form 8 military-industrial and 5 civil industry holdings. Rostec's subsidiaries are located in 60 regions of Russia and supply their products to over 70 countries worldwide. In 2012 revenues of the Corporation amounted to RUB 931 billion, net profits were RUB 38.5 billion and total taxation exceeded RUB 109 billion.