RUE "Orsha Aircraft Repair Plant" has been corporatized

November 13, Vitebsk / Sergey Kochetov - BELTA /. The Republican Unitary Enterprise "Orsha Aircraft Repair Plant" and the RUPP "Vitebsk Interdistrict Repair Enterprise" have been corporatized in the Vitebsk region, the regional territorial fund of state property "Vitebskoblimushchestvo" informed a BELTA correspondent. The authorized capital of OJSC "Orsha Aircraft Repair Plant" is formed in the amount of almost Br14.9 billion, with this amount, 3 million 381 thousand 701 ordinary shares will be issued with a nominal value of Br4.4 thousand each. It is planned to retain 75% of the shares in state ownership. In the future, it is planned to sell part of the company's securities to privatization entities, including enterprise employees for money on preferential terms and in exchange for nominal privatization vouchers. Currently, the formation of proposals for the placement of shares is being completed at the enterprise. Until the first shareholders' meeting, the Ministry of Transport and Communications is authorized to make decisions within the competence of the general meeting and the supervisory board of the company. OJSC "Vitebsk Interdistrict Repair Enterprise" has formed an authorized capital of about Br2.748 billion, with 624 thousand 449 ordinary shares planned to be issued with a nominal value of Br4.4 thousand. Initially, the state's share in the authorized capital will be 100%, and the formation of proposals for the placement of shares is currently being completed in the joint-stock company, including through preferential sale and exchange for nominal privatization vouchers to employees of the enterprise. By the end of November, it is planned to reform another 5 enterprises of republican ownership in the region, included in the privatization plan of republican property objects for 2008-2010. In addition, the "Vitebskoblimushchestvo" fund has begun preparatory work for the corporatization of enterprises scheduled for privatization in 2010. Two training seminars have been held with managers, chief accountants, and lawyers of the enterprises. During the events, fund specialists spoke about the specifics of preparing privatization projects, primarily related to the accounting of state property, as well as the creation and management of OJSCs, drawing attention to the need to comply with social guarantees for employees. In addition, work is being carried out with enterprises on the inventory of real estate objects. Subsequently, a full and adequate assessment of the fixed assets on the balance sheets of the enterprises, and high-quality preparatory work will allow managers to avoid mistakes and the need to correct them during the reform process. In total, more than 15 republican enterprises are planned to be reformed in the Vitebsk region in 2010. -0-