Michaniki Russia is pleased to inform investors on the signing of the acquisition contract of a land plot situated in southern Moscow.
In a unique natural beauty region, the initial plan has the provision of the construction of an autonomous modern residential area of more than 700.000 sq.m. including a commercial shopping center, schools, kindergarten, church, health center, sport facilities and parks. The final construction and architectural plan will be a subject of an international competition. The residential area -small city- will be named Hellas.
After that, the Board of Directors of the companies - shareholders of Michaniki Russia has taken the unanimous decision to increase the share capital of the subsidiary company Michaniki Russia by 20 million euros.
The increase of the share capital will be covered as follows:
1. Michaniki S.A. 12,00 Euro millions, 60 %.
2. Balkan Export S.A. 5,00 Euro millions, 25 %.
3. Hellenic Pipeworks S.A. 2,00 Euro millions, 10 %.
4. Marmara Kavalas S.A. 1,00 Euro millions, 5 %.
Total: 20,00 Euro millions.
After the implementation of the aforementioned decision, the share capital of Michaniki Russia will amount to Euro 60.000.000.