Shareholders of AGMK adopted a corresponding decision at the extraordinary meeting in late October.

In line with the decision, the charter capital of AGMK will increased through raising par value of shares from 1,000 soums to 1,800 soums. In the result, the authorized capital of the company will increase from 89,686,984,000 soums to 161,436,571,200 soums.

The difference will be covered due to undistributed income at the size of 71,749,567,200 soums as of 1 October 2010, including net income for 20,771,310,000 soums of 2009.

According to the company, AGMK will issue 87,444,809 ordinary shares and 2,242,175 preferential shares with par value of 1,800 soums each. Total volume of emission will make up 161,436,571,200 soums.

Almalyk Mining and Metallurgy Combine OJSC is the largest producer of copper in Central Asia and it has right to develop several copper- molybdenic and lead-zinc deposits in Tashkent, Jizzakh and Namangan regions of Uzbekistan. The enterprise produces purified copper (cathode), including copper concentrate based on tolling and due to processing of scrap, metal zinc, lead concentrate and other products. Share of AGMK in production of silver is 90% and gold – 20% in Uzbekistan.

AGMK now has four ore mills – copper, lead-zinc and two gold producing. The enterprise has eight ore mining enterprises and two metallurgy plants. Khandiza ore mining and processing complex will become the fifth plant.