Russia's major pollock quota holder creating spin-off for Atka mackerel fishery

Shareholders of Vladivostok-based OAO NBAMR (plc), one of the largest fishing companies of the Russian Far East, have decided to make changes in the company's organizational structure, reports www.fishnet-russia.com (www.fishnet.ru) with reference to Zolotoy Rog.

More specifically, NBAMR previously had a 100% daughter company OOO DRK (ltd, the company's name can be translated into English as Pacific Fishing Ccompany) and as part of reorganisation process the company merged into NBAMR. Along with the merger, the shareholders decided to establish a new daughter company called ZAO Primorskaya Rybolovnaya Kompania (closed jsc, Primorye Fishing Company) which was handed over mostly Atka mackerel quotas. As a result, this company will major in Atka mackerel fishery.

Sergey Suleimanov has been appointed general director of the new company. NBAMR's authorized capital remained unchanged. Authorized capital of the new company will be formed from NBAMR's profit remaining unrealized for recent years and it will amount to RUR500,000 consisting of 5000 shares each worth RUR100.00.