BISHKEK, JAN. 13 2016, (The Conway Bulletin) — In an interview with local media, senior Kyrgyz government officials said they had pushed hard against the issue of an extra 4.6m shares in Centerra Gold, the Canadian mining company in which Kyrgyzstan owns a 32.7% stake.
Centerra Gold owns the Kumtor gold mine, Kyrgyzstan’s most important economic asset. The interview with local media again shows how far apart Kyrgyzstan and Centerra Gold are on their various strategies.
Kylychbek Shakirov, a government-appointed board member at Centerra Gold, told media that he and his two Kyrgyz colleagues voted against issuing the shares, as this measure would dilute the total stake that Kyrgyzstan owns in the company.
“The Board of Directors of the company at the extraordinary session on December 17, 2015, made the decision to issue 4.6m additional shares,” Mr Shakirov said.
“We failed to achieve cancellation of the previous decision because three members of the board voted against issuance of new stocks and 8 members voted for it.”
ENDS
Copyright ©The Conway Bulletin — all rights reserved
(News report from Issue No. 263, published on Jan. 15 2016)