OREANDA-NEWS. On 06 July 2009 was announced, that during the first day of the second phase of the 8th Rights Issue of NJSIC "Oranta", BTA Bank (Kazakhstan) subscribed to to 36 079 759 new ordinary shares of the Company amounting to 211 066 590 15 UAH, representing 35,17% of the new shares offered at this Rights Issue of the insurer.

According to Ukrainian Law, the duration of the second phase Rights Issue NJSIC "Oranta" will last three hundred and fifty calendar days and will continue until June 15, 2010 inclusive. However, the Chairman of the Supervisory Board of the Company Oleg Spilka believes that "Subscription will be closed (subject to receipt of all funds for the shares) prior to 15 September this year, given the existing demand for the securities of the company".

As reported, during the second phase of this Rights Issue existing shareholders, as well as unlimited number of other individuals and entities who are not shareholders of NJSIC "Oranta", will be able to realize their right to subscribe to NJSIC "Oranta"’s shares.

Earlier, Annual General Shareholder Meeting of NJSIC Oranta, that took place on 17 April 2009, approved the authorized share capital increase by 600 093 000 UAH by issuing additional 102 580 000 ordinary registered shares at the nominal value (5, 85 UAH). As a result of this Rights Issue the authorized capital of NJSIC "Oranta" will be 775 125 000 UAH.