OREANDA-NEWS. On 11 August 2009 was announced, that Avdiyivka Coke (AVDK) shareholders, at an AGM on August 7, decided not to pay out dividends for 2008 and will instead direct last year’s profits toward modernization. The plant set aside UAH 803 mln for this purpose and will transfer UAH 642 ths into its reserve fund. Andriy Gerus: This news is in line with our expectations as current market conditions make it unfavorable to pay out dividends.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.