Russia: Baltika to transfer maintenance of share register to National Registration Company
The Board of Directors of Baltika Breweries OJSC took a decision to transfer the maintenance of the share register from the Single Registrar CJSC to a new registrar - the National Registration Company CJSC, in view that the FFMS had suspended the license of the Single Registrar CJSC, Prime Tass reported January 30.
At the same time, the company considers its cooperation with the Single Registrar to be success during the merger of Baltika, Vena, Yarpivo and Pikra breweries.
The FFMS suspended the Single Registrar's license on December 19, 2006, in view of its repeated breaking Russia's securities legislation within a year. January 12, 2007, the Arbitrage of Moscow gave a ruling to suspend the decision of the FFMS.
The National Registration Company CJSC is one of the largest registrars in Russia. Its clients include Vimpelcom, Norilsk Nickel, and Power Machines.
Baltika has been leader of the Russian beer market since 1996. In January-September 2006, the company's net income totaled EUR 260.6 mln, which is 34.8% more y-o-y. Its revenues grew by 77% to EUR 1.338 bn, its gross profit - by 30.2% to EUR 727.4 mln, EBITDA - by 85% to EUR 440.9 mln. As of October 1, Baltika took 36.3% of the Russian beer market. The company's share accounted for 80% in the Russian export of beer.
Baltik Beverages Holding AB (BBH) has been Baltika's major shareholder since 1993. BBH is owned in equal shares by Carlsberg A/S and Scottish & Newcastle plc.
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