NCSP increases its share in Novorossiysk Shiprepair Plant to 57.46%

Novorossiysk Commercial Seaport OJSC (NCSP) increased its share in Novorossiysk Shiprepair Plant to 57.46% of ordinary shares, which makes 64.95% of the company’s authorized capital, Interfax-Yug reports according to Yuga.Ru. Earlier NCSP held 46.39% of the plant’s ordinary shares. In July 2006 shareholders of NCSP decided to create a holding on the basis of NCSP, which included Novoroslesexport OJSC, IPP OJSC, OJSC Fleet of Novorossiysk Commercial Seaport, Novorossiysk Shiprepair Plant OJSC, Novorossiysk Grain terminal OJSC and Baltic Stevedoring Company LLC.NCSP's control stock — 63.87% — is nominally held by RF Sberbank. 16% of the voting stock belongs to Russian Railways OJSC, 6.24% of the stock are nominally held by Investsberbank. Minority holders hold over 2%, NCSP- 9.89%. The state controls 20% of the stock. Beneficiaries of the control stock of NCSP are Alexander Ponomarenko, Chairman of NCSP BOD and Alexander Skorobogatko, State Duma deputy.

Novorossijsk Commercial Seaport OJSC is the largest stevedoring company operating at Novorossijsk port. The Company’s cargo turnover totaled 74.899 million tons in 2006.