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Novatek gas co.'s split stock to start MICEX trading on Aug.18

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MOSCOW, August 17 (RIA Novosti) - The Moscow Inter-Bank Currency Exchange (MICEX) said Thursday it will start trading the split stock of Novatek [RTS: NVTK], Russia's largest independent natural gas producer, on its stock exchange as off-list securities from August 18.

Novatek shareholders decided at their annual meeting June 2 to split the company's stock and convert each Ordinary share with a face value of 100 rubles (about $3.7) into 1,000 shares of the same category with a nominal cost of 0.1 rubles, while keeping the company's charter capital and the scope of shareholders' rights unchanged.

The MICEX board made a decision on Novatek's split stock trading August 16.

The split stock of Novatek, the second largest gas company in Russia after energy giant Gazprom, with a charter capital 303.63 million rubles ($11.2 million), will total 3,036,306,000, MICEX said.

Novatek's natural gas reserves are estimated at 1.6 trillion cubic meters, and its oil reserves at 259 mln metric tons. In 2005, Novatek produced some 25.2 bln cu m of natural gas and 2.586 mln metric tons of gas condensate and oil.

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