Urals Energy Public proposes share consolidation

Urals Energy Public Company Ltd is proposing a share consolidation and share premium reduction.

It was proposed the company's share premium account be reduced from $656,167,589 to nil, by writing off the losses of the company equivalent to this reduction of share premium account.

Urals Energy Public Co further proposed a share consolidation, whereby every 20 existing ordinary shares of nominal value of $0.0063 each be replaced by one new ordinary share of nominal value $0.126.

It was calling an EGM on May 26 to consider and, if fit, to adopt the following resolutions.