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ARMZ Uranium Holding Co. Becomes Rosatom State Corporation’s Daughter
ARMZ Uranium Holding Co. issued new stock and received the first installment payment in the amount of 16.898 billion rubles from Rosatom State Corporation on July 30, 2009. The payment followed the Russian government’s order N909-R of July 11, 2009 providing for a federal budget subsidy of RUR 50 billion to Rosatom State Corporation to purchase stock of Atomredmetzoloto, AKA ARMZ Uranium Holding Co.
After payment from Rosatom State Corporation, ARMZ Uranium Holding Co. issued and placed 4.256.649.874 common shares in Rosatom’s possession. Consequently, Rosatom State Corporation became the owner of a controlling stake (51.83%) in ARMZ Uranium Holding Co.