Ukraine contributes UAH 80 m to JV for nuclear fuel plant construction within additional share issue

Nuclear Fuel State Concern has financed its stake in the charter capital of a nuclear fuel plant, which is under construction in Ukraine, contributing UAH 80 million within an additional share issue by the joint Russian-Ukrainian enterprise.

"Nuclear Fuel State Concern has fully fulfilled its obligations and on December 12, 2012 paid for the Ukrainian part of the additionally issued shares of PJSC Nuclear Fuel Plant in the amount of UAH 80 million," reads a statement.

As reported, the shareholders of PJSC Nuclear Fuel Plant at an extraordinary meeting on November 22, 2012 decided to increase its charter capital by UAH 160 million, from UAH 1.5 million to UAH 161.5 million.

The private placement of 16 million shares in the private joint-stock company with a face value of UAH 10 is scheduled. The shares are placed proportionally to the share of shareholders' stakes and the placement does not foresee an increase in their stakes in the company's capital.

The shares will be paid with cashless funds sent to the account of the company. The funds will be used to finance a project for the construction of the nuclear fuel plant.

The funds will be sent to support the operations of the company, carry out design and other work required for the construction of the plant, and to cover a debt on a loan agreement worth $3 million (around UAH 26.4 million) with Russia's TVEL of October 1, 2012, and agreements with Nuclear Fuel Concern to provide financial aid of UAH 370,000 and UAH 998,000.