OREANDA-NEWS. July 18, 2008. This right was granted to OAO Belon shareholders under an obligatory buy-out offer made by Onarbay Enterprises Ltd., the majority shareholder. Onarbay owns 82.6% of shares in Belon.

Under legislation, the obligatory offer was effective for 75 days from April 15, 2008. Within another 15 days, until July 15, 2008, the shareholders could have deposited their shares in Onarbay’s personal account. To date, the validity of the offer has expired. According to an account statement, no securities were offered for buy-out as on the above date.

According to the Belon Group management, that means that the shareholders express an intense interest in the company and are confident that shares in it will keep rising in value and Belon will implement its announced plans to boost production and key financial indicators.