Approved by State commission on securities and stock exchanges under the Ministry of Finance of the Republic of Uzbekistan of September 19, 1995 No. 08-03-02/1553a of the State Property Committee of the Republic of Uzbekistan of October 13, 1995 No. 00-365

Regulations on procedure for increase in the authorized capital of joint-stock company in connection with recalculation of fixed assets

I. General provisions

1. This Provision regulates procedure for increase in the authorized capital of the joint-stock companies created as a result of transformation of the state companies (further referred to as - transformed), in connection with recalculation of fixed assets of the companies, the Republic of Uzbekistan made according to the resolution of the Cabinet of Ministers of November 28, 1994 of N572 "About the Organization of Works on Recalculation of Fixed Assets in the Republic of Uzbekistan" as of January 1, 1995 and increase in the authorized capital in communication by recalculation of fixed assets of newly created joint-stock companies does not extend much.

2. Increase in the authorized capital of the transformed joint-stock companies in connection with recalculation of fixed assets for January 1, 1995 is made in the way:

- additional share issue for the total amount of increase in the capital;

- increases in nominal value of issued shares.

3. The decision on additional share issue or increase in nominal value of issued shares of the transformed joint-stock companies in case of increase in the authorized capital is accepted by bodies of the State Property Committee of the Republic of Uzbekistan.

II. Increase in the authorized capital by additional share issue

4. Increase in the authorized capital of the transformed joint-stock company, in connection with recalculation of fixed assets for January 1, 1995 is made by additional share issue of the same type and nominal, as at the time of state registration of the prospectus of the issue.

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