Skoda Plzen held an EGM yesterday. Shareholders approved the decrease of the registered share capital from CZK 9.479 bil. to CZK 9.479 mil. to cover accumulated loss, which exceeded CZK 12 bil. The par value of the share will therefore decline from CZK 1000 to CZK 1. Skoda Plzen will also sell its stake in the new entity Skoda Holding, which bought the main assets from Skoda Plzen, to Konsolidacni banka, which will become the new majority owner of Skoda Holding. Also, Skoda Holding announced yesterday that it intends to sign a USD 1 bil. contract in Russia.