Press releases | Archive 2005
EGM of RBC supported an increase in the number of authorized sharesEGM of RBC supported an increase in the number of authorized shares
The number of authorized shares was increased from 15 million to 34.26 million shares. Of this amount, the issuance of 4.26 million shares for the share option program for Board members and the top management was already approved by the Annual General Meeting on June 22, 2005. At present, all the necessary documents for this issuance have been submitted for registration by the Russian Federal Financial Markets Service. Consequently, after the issuance of 4.26 million shares, the Company will have a reserve of up to 30 million authorized shares that can be used to finance RBC's future growth and acquisitions as and when required.
The current number of RBC shares issued and outstanding is 115 million.