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August 1, 2008 - Supply Contract with FLSmidth
Teghout cjsc, an affiliated company with Armenian Copper Programme cjsc, has entered into a USD 47 million Supply Contract with FLSmidth Dorr-Oliver Eimco UK Ltd for the supply of primary comminution and classification equipment for the construction of Teghout copper molybdenum combine. The contract includes the supply of one SAG mill, one ball mill, two crushers, hydrocyclones and two complete millMax pumps.
May 25, 2008 - Loan Agreement with VTB Bank
Teghout cjsc, an affiliated company with Armenian Copper Programme cjsc, has entered into a Loan Agreement with VTB Bank (Russian Federation) for USD 249.5 mln, for the investment project of exploitation of Teghout copper molybdenum deposit. The participation of VTB in financing of the project is expected to be for up to 12 years. ACP would be acting as pledgor (of its shares, as well shares in Teghout cjsc owned by ACP) and guarantor for the obligations of Teghout cjsc under the Loan Agreement.
May 22, 2008 - Supplemental Agreement with VTB Bank (France) SA
Armenian Copper Programme cjsc has entered into a Supplemental Agreement with VTB Bank (France) SA, increasing the amount of the loan to be provided to the company under the Facility Agreement dated 26 October 2007 to USD 30 mln. The agreement is effective until November 28, 2010.
May 14, 2008 - Service Agreement with an Affiliated Company
Armenian Copper Programme cjsc has entered into contract № 15/2008 with Lernametalurgiai Institute cjsc, an affiliated company, for receiving engineering design services with respect to the technical safety certificate of the Alaverdy mine. The value of the contract is AMD 3 mln.
May 05, 2008 - Sales of assets
Armenian Copper Programme cjsc has concluded a sales and purchase contract with Teghout cjsc, an affiliated company, for selling to the latter assets related with the exploitation of Teghout copper molybdenum deposit. In accordance with the contract, the value of assets being sold amounts to about AMD 3.0 bln.
May 04, 2008 - Increase in Equity Capital
In accordance with the decision № 080504/1 of the extraordinary general meeting of shareholders of Armenian Copper Programme cjsc, the company has increased its participation in the equity capital of its affiliated company - Teghout cjsc. ACP has additional purchased 3.1 mln shares of Teghout cjsc through investment of AMD 3.1 bln drams.