Daily monitor

The new registrar of electricity generation company Dniproenergo [DNEN UZ] – Prominvestbank – has officially restored the register of shareholders of Dniproenergo, now allowing the company to hold an official AGM. This allows Dniproenergo to resume corporate governance and during the next EGM approve financial results for 2007 and approve development strategy for 2008.

The State Statistics Committee of Ukraine released figures on real industrial output growth in July 2008. Real output in July 2008 grew 1.9% MoM (vs. 2.5% decline in June 2008) and grew 5.1% YoY (vs. 5.2% in June 2008).

The merchandise balance deficit in Ukraine for 1H08 is USD 9.8 bln; USD 1 bln higher than in January-May and 2.3 times higher than in the same period in 2007. Merchandise exports grew 40.7% in 1H08 YoY, while merchandise imports grew 60%.

The Automobile Plant "Bogdan" [LUAZ, BUY], a member of the Bogdan Corporation, increased its production of passenger cars by 80.2% YoY in the period January-July 2008 - up to 50.4 thsd units.

Prydniprovsk Dairy [KPRD, BUY], a Ukrainian independent dairy producer, has been submitted for listing on the PFTS Ukrainian exchange on August 4, 2008. The company has 7 mln shares outstanding with a par value of USD 0.52.

By the end of 2009, Ukrtelecom [UTEL UZ, U/R] plans to launch a new service called “Triple Play” for its customers engaged in commercial activity in Ukraine.

On August 8, the electricity distribution company Odesaoblenergo [ODEN UZ] failed once again to hold an EGM to approve the results of the three-fold additional share issue initiated by the major shareholder VS Energy.

At the August 05 AGM, shareholders of the Chervonoarmiyska Zakhidna No. 1 coal mine [SHCHZ UZ, N/R] decided to reinvest 95% of the 2007 net income of UAH 53.5 mln (USD 11.6 mln at USD/UAH 4.63). The remaining 5% will go into the company’s reserve fund.

Avdiivka Coke [AVDK UZ, Strong BUY] has increased output by 39.5% to 2.727 mln mt in 7M08. According to Interfax-Ukraine, which cited the Ministry of Industrial Policy of Ukraine, in July 2008 Avdiivka Coke produced 368 thsd mt of coke, down 6.8% from June’s 395 thsd mt.

On August 7, 2008, the AGM of Ukrtelecom [UTEL UZ, U/R] took place in Kyiv.