Current report no. 3/2011
dated 17 June 2011
The Board of Directors of WESTA ISIC S.A. (the "Company") informs that on 16 June 2011 the Board of Directors of the Company adopted a resolution on share capital increase of WESTA DNEPR (CYPRUS) LIMITED, company code 276333, registered office 1, Lampousas Street, 1095 Nicosia, Cyprus, a direct subsidiary of the Company.
The Company intends to increase the issued share capital of the Company from EUR 12,000 divided into 12,000 shares of EUR 1.00 each to EUR 22,000 divided into 22,000 shares of EUR 1.00 each, by the creation of 10,000 additional shares of a nominal value of EUR 1.00 each, to be issued at a premium of EUR 3,190.936161 per share. The total amount to be contributed in cash amounts to EUR 31,919,361.61. The payment shall be effectuated in USD in the amount of 45,600,000.00 and converted at the exchange rate of USD/EUR 1.4286.
The proceeds received by WESTA DNEPR (CYPRUS) LIMITED will be used to finance the Company's group production development and debt reduction program as described in the prospectus issued in connection with the initial public offering of the Company's shares.
Legal grounds: § 56.1 in connection with 56.6 of the Act on Public Offerings, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies dated July 29th 2005
Date Name Signature
17-06-2011 Viktor Ostapenko Viktor Ostapenko