On October 3, 2005 JSC Acron's extraordinary shareholders' meeting adopted a decision to split 8,222 Company's placed ordinary registered book-entry shares, as a result of which one ordinary registered book-entry share in JSC Acron with a face value of 29,000 roubles is converted into 5,800 ordinary registered book-entry shares in JSC Acron with a face value of 5 roubles each. The share splitting ratio is 5,800. The means of placing shares is conversion at splitting shares. The quantity of placed shares amounts to 47,687,600 pcs.
The shareholders also approved introduction of the following alterations to the Charter of JSC Acron:
1. Clause 4.2 of the Charter shall be amended to read as follows:
"4.2. The Company issued (placed) 47,687,600 (forty-seven million six hundred and eighty-seven thousand six hundred) ordinary registered book-entry shares with a face value of 5 roubles each".
2. The first sentence of clause 4.9 of the Charter shall be amended to read as follows:
"4.9. The Company shall be entitled to place additionally to placed shares 32,190,000 (thirty-two million one hundred and ninety thousand) ordinary registered book-entry shares with a face value of 5 roubles each (declared shares)".