14.06.2007, 08:14
Dalsvyaz Announces Business Cnsolidation Pans for Subsidiaries – Sakha
OREANDA-NEWS. On June 06, 2007 Dalsvyaz (RTS: ESPK, MICEX: DLSV, US OTC: FEEOY, Frankfurt and Berlin exchanges: D71) hereby announced its plans to complete the business consolidation of its subsidiaries – Sakhalinugol-Telecom and A-Svyaz by the end of 2007, reported the press-centre of Dalsvyaz.
On June 5, 2007 the Board of Directors of Dalsvyaz adopted a decision to liquidate Sakhalin-Telecom (Sakhalin region). Dalsvyaz acquired a 100% stake in Sakhalinugol Telecom in August 2005 for Rub 40 mln. At the time of acquisition the subscriber base stood at about 6,000. During 2005 the subscribers of Sakhalinugol Telecom were switched to servicing by Dalsvyaz. In Q107 Dalsvyaz restructured its line numbering system used to provide telecom services and placed on the balance sheet the technological telecom equipment and line cable facilities of Sakhalinugol Telecom.
At present, Dalsvyaz is switching over the subscriber network of another subsidiary – A-Svyaz (Amur region), over which it gained control in June 2006. Dalsvyaz’s stake stands at 84,2% and cost the company Rub 10 mln. At the time of purchase, the subscriber base of A-Svyaz numbered 6,500. Dalsvyaz acquired technological equipment, electric power transmission lines and added A-Svyaz to its subscriber base.
Dalsvyaz plans to raise its stake in the charter capital of A-Svyaz by acquiring shares from minority shareholders. Shareholders that failed to sell their shares will receive teh portion of assets remaining after settlement with creditors is complete. Dalsvyaz intends to raise at the general shareholders meeting of A-Svyaz the issue of voluntary liquidation of the company this August. The plan is to wind up A-Svyaz by the end of 2007 or early 2008.
Dalsvyaz is the leader on the Far East telecommunication market. The company provides services in the Primorie, Khabarovsk, Amur, Kamchatka, Magadan, Sakhalin regions and the Jewish Autonomous Region. The company’s charter capital equals Rub 2,535,006,440 and is divided in 95,581,421 common and 31,168,901 preferred shares. Dalsvyaz’s commons and prefs trade on RTS Stock Exchange and MICEX. The telecom operator’s common stocks are listed on the US OTC market, Frankfurt and Berlin Exchanges in the form of American Depositary Receipts (the company implements the level-1 ADR program, with JP Morgan Chase Bank acting as ADR depositary). Dalsvyaz’s major shareholder is Svyazinvest (50,6% of voting stocks or 38,1% of the charter capital). Foreign investors own over 25% of the telecom operator’s charter capital.
On June 5, 2007 the Board of Directors of Dalsvyaz adopted a decision to liquidate Sakhalin-Telecom (Sakhalin region). Dalsvyaz acquired a 100% stake in Sakhalinugol Telecom in August 2005 for Rub 40 mln. At the time of acquisition the subscriber base stood at about 6,000. During 2005 the subscribers of Sakhalinugol Telecom were switched to servicing by Dalsvyaz. In Q107 Dalsvyaz restructured its line numbering system used to provide telecom services and placed on the balance sheet the technological telecom equipment and line cable facilities of Sakhalinugol Telecom.
At present, Dalsvyaz is switching over the subscriber network of another subsidiary – A-Svyaz (Amur region), over which it gained control in June 2006. Dalsvyaz’s stake stands at 84,2% and cost the company Rub 10 mln. At the time of purchase, the subscriber base of A-Svyaz numbered 6,500. Dalsvyaz acquired technological equipment, electric power transmission lines and added A-Svyaz to its subscriber base.
Dalsvyaz plans to raise its stake in the charter capital of A-Svyaz by acquiring shares from minority shareholders. Shareholders that failed to sell their shares will receive teh portion of assets remaining after settlement with creditors is complete. Dalsvyaz intends to raise at the general shareholders meeting of A-Svyaz the issue of voluntary liquidation of the company this August. The plan is to wind up A-Svyaz by the end of 2007 or early 2008.
Dalsvyaz is the leader on the Far East telecommunication market. The company provides services in the Primorie, Khabarovsk, Amur, Kamchatka, Magadan, Sakhalin regions and the Jewish Autonomous Region. The company’s charter capital equals Rub 2,535,006,440 and is divided in 95,581,421 common and 31,168,901 preferred shares. Dalsvyaz’s commons and prefs trade on RTS Stock Exchange and MICEX. The telecom operator’s common stocks are listed on the US OTC market, Frankfurt and Berlin Exchanges in the form of American Depositary Receipts (the company implements the level-1 ADR program, with JP Morgan Chase Bank acting as ADR depositary). Dalsvyaz’s major shareholder is Svyazinvest (50,6% of voting stocks or 38,1% of the charter capital). Foreign investors own over 25% of the telecom operator’s charter capital.
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