OREANDA-NEWS. July 26, 2007. At a meeting the Board of Directors of OAO Armada has fixed the price of the additional share issue at RUR380 per share.

Under the capital increase program, Armada has issued 2 million ordinary shares, representing 20% of the share capital of the company. It is planned to use the proceeds of the offering for acquisitions primarily in the area of IT services.

ZAO Aton Broker acts as the lead manager of the offering. A road show with the participation of Armada top management was held in Moscow, London, Frankfurt, Stockholm, Vienna and Zurich on July 4-17, 2007. The shares will be offered to a wide range of investors at an open subscription simultaneously on MICEX and RTS on July 31, 2007.