On February 23, Uzmetkombinat JSC held an extraordinary general meeting of shareholders, during which seven key issues were considered, including amendments to the terms of a previously approved major transaction, company reorganization, and a reduction of the charter capital.
The reorganization involves separating industry-specific economic units based on the territorial branches of Ikkilamchikorametallar, with the approval of separation balance sheets and determination of the procedures and conditions for such separation.
In connection with the reorganization, shareholders were granted the right to demand a buyback of common shares from the issuer. The buyback price has been set at 3,696.99 sums per share. The final record date, taking into account the T+2 settlement scheme, was February 13, and the buyback procedure officially began on February 25.
The reduction of charter capital and the share buyback are aimed at optimizing the company’s ownership structure and improving management efficiency as part of the ongoing reorganization process. (UzDaily)