Mykolaiv City Council plans to increase the authorised capital of the water utility by almost ₴700 million

The authorised capital of «Mykolaivvodokanal» will be over 2 billion hryvnias. Archival photo from open sources

The Mykolaiv City Council plans to approve a new version of the charter of the municipal utility «Mykolaivvodokanal» and increase its authorised capital by almost 700 million hryvnias.

This was discussed during the city council's commission on housing and communal services today, 29 July, according to NikVesti.

As explained by Ihor Nabatov, First Deputy Director of the Housing and Communal Services Department, the draft decision was developed to bring the size of the company's authorised capital in line with the financial statements. Its implementation does not require the allocation of funds from the city budget.

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«It is primarily about increasing the charter capital, taking into account the contributions previously provided to «Mykolaivvodokanal» by the relevant decisions of the city council. The new version of the charter is being published solely because it is required by the procedure and the documents approved by the charter. The main thing is that we are increasing the size of the charter capital to match the current size of «Mykolaivvodokanal», said Ihor Nabatov.

Thus, the size of the authorised capital of «Mykolaivvodokanal» will amount to 2 billion 113 million 271 thousand 188 hryvnias.

This decision is to be considered by the Mykolaiv City Council at its session on 31 July.

Earlier, Mykolaiv approved the members of the supervisory board of the municipal enterprise «Mykolaivvodokanal».