State block of shares of Ust-Kamenogorsk titanium-magnesium combine is exhibited for stock exchange's trades in Kazakhstan

/INTERFAX-KAZAKHSTAN, Almaty, January 8, 04/ - Committee of state property and privatization of the ministry of finance of Kazakhstan exhibits state block of shares of Ust-Kamenogorsk titanium-magnesium combine OJSC (UKTMC, East- Kazakhstan oblast) for trades. Corresponding announcement of the committee was published on Thursday in the official press. Shareholding at the rate of 15.5% of authorized capital, which is 21 m. 582 th. tenge (current 142.35/$1) is exhibited for trades, which are planned for January 26 of the current year at Kazakhstan stock exchange (KASE). The state block, which is sold, consists of 167 th. and 260 shares, face value of each of them is KZT20. The committee of state property and privatization of the ministry of finance explained to "Interfax-Kazakhstan" that all state shares of that company were sold in that way. The announcement notes that order of trades holding is regulated by Kazakhstan legislation about securities market and rules of KASE's trading. Shares of UKTMC are circulating at KASE in the official "A" listing category. Primary activities of UKTMC are production and sale of ferrous metals, in particular, high-quality titanium sponge, commercial magnesium. In accordance with shareholders register as of January 1 of 2003, 65.77% of authorized capital of UKTMC OJSC (701415 shares) belonged to Belgian company Specialty Metals Company S.A. As was informed, net profit of UKTMC according to results of January-September of 2003 fell by 96% to KZT45.306 m. against KZT1.112 bn. in January-September 2002. Within the first nine months of 2003 sales volume of UKTMC fell in comparison with January-September of 2002 by 19.8%, having equaled to KZT6.728 bn., cost of sold goods fell by 8.1% to KZT5.843 bn. Company's shareholders equity fell by October 1 of 2003 by 1.2% to KZT7.457 bn. Accounts receivable of UKTMC as of October 1 of 2003 was KZT989.084 m., having decreased within the year (since October 1 of 2002) by 6.3%, accounts payable, on the contrary, rose by 13% to KZT862.482 m. Company's assets in the whole as of October 1 of 2003 were equal to almost KZT8.372 bn., having decreased by 0.3% in comparison with similar date of 2002. Company's liabilities increased within the described period by 8% to KZT915.324 m. According to financial statement, net working capital of UKTMC as of October 1 of 2003 was equal to about KZT2.812 bn. (fell during the year by 1.5%). [2004-01-08]