Capital oil industry workers have saved on dopemissiiYesterday the Moscow oil company (MNK) declared creation of the Moscow oil and gas company (MNGK) in which authorised capital stock ($293 million) actives belonging to businessman Shalve Chigirinsky companies Sibir Energy and property of Moscow belonging to the government of the Central fuel company (TSTK) will be brought. It is supposed that the mister Chigirinsky becomes the president of the new company. The similar scheme of reforming will allow founders not to pay the tax at a rate of 0,8 % from the sum of an authorised capital stock which it should to give if actives have been simply transferred MNK.
In January authorities of the capital were defined with destiny TSTK (the companies belong controlling interests Moscow NPZ, the Moscow fuel company, Open Society “ Moscow mineral oil “ Open Society “ Parkojl “) - By president TSTK head of MNK Shalva Chigirinsky has been appointed. Under mayoralty plans, TSTK should “ to be dissolved “ in MNK: there should pass all property Central fuel and a part of extracting actives Sibir Energy. Before the termination of this operation there should pass an estimation of this property the independent auditor; authorised capital stock MNK (it makes 100 thousand rbl.) should increase by its cost . To the Moscow mayoralty and Sibir Energy should belong on 50 % of corrected authorised capital stock MNK.
Yesterday MNK declared scheme change. The property will be brought not in MNK, and in specially organised MNGK with an authorised capital stock in $293 million In the rest the new company will appear full copy MNK, including in distribution of actions between founders. The authorised capital stock size is defined by cost of brought actives; according to vice-president MNK Sergey Dyomin, actives TSTK have been estimated in $117 million (the sum considers a company debt before Credit Swiss First Boston which makes $110 million), cost brought Sibir Energy 50 % of actions of the joint venture “ Sibneft - Jugra “ has made $176 million Management company will be MNK.
According to mister Dyomin, the new structure was created to divide the Moscow oil business on two components, actives and management, and thus to lower risks. In one more reason the unwillingness of shareholders the tax in 0,8 % of a face-value of actions dopemissii which should be laid out began to pay if all actives have been transferred MNK (it would make $2,3 million). In a case with MNGK (placing of the first issue of actions of joint-stock company) this tax is not raised.
the used scheme has one lack. If MNK will want to include in the structure still any property, she should create new joint-stock company. For example, Open Society “ the Moscow petrogas-processing company “ (MNGPK). And then in an artful design of mutual relations Sibir Energy, TSTK, MNK, MNGK, MNGPK and etc. cannot understand and Shalva Chigirinsky.
PETER - SHOEMAKERS