FFMS suspends Seligdar Gold's bond issue worth RUB 500 mln

On January 18, the Federal Financial Markets Service (FFMS) suspended the issue of bonds of Seligdar Gold OJSC (Aldan, Yakutia), the FFMS says.

The company placed the issue on December 27 2006, on the MICEX SE by public subscription. It includes 500,000 bonds of RUB 1,000 par. The maturity is 5 years. The first coupon rate was set at 13% at the auction. The 2-3 coupon rates match the first one. The 4-10 coupon rates will be fixed by the issuer. The issue is secured by Seligdar Prospectors' Team.

Seligdar Gold prospecting cooperative prospects, explores, produces, process, and sells gold, silver, and platinum metals. It also performs civil and erection works, timber-harvesting operations, road and transport work, and some others. The cooperative's proceeds in 2005 totaled RUB 705.618 mln, its net income was RUB 5.624 mln. Seligdar Gold's authorized capital is RUB 20 mln and is split into 20 mln ordinary shares of 1 ruble par.

// January 19, 2007

Resource: AK&M