Private joint-stock company Chumak (Kakhovka, Kherson region), one of the largest food producers in Ukraine, is planning to increase its charter capital making additional contribution to the share capital, reads a company report at the information disclosure system of the National Commission for Securities and the Stock Market.

The report says that the issue was put on the agenda of an extraordinary general meeting of its shareholders scheduled for Jan. 16, 2012.

The report does not offer the size of the increased capital.

The shareholders are proposed to approve a decision to privately pace additionally issued shares with the present face value to be worth the size of additional contribution.

Chumak was founded in 1996 by Swedish businessmen Johan Boden and Carl Sturen and the founder of the Tetra Pak company Hans Rausing.

It produces ketchup, mayonnaise, sauces, canned vegetables, tomato paste and pasta foods under the Chumak brand.

In March 2008, Kyiv's Dragon Capital and East Capital Bering Ukraine Fund reported on the joint acquisition of a 70% stake in Chumak from Rausing.

Formally the owner of a 99.99994% stake in the company is Chumak Holdings Limited (Cyprus).

In 2010, private joint-stock company Chumak cut its net income by 8%, to Hr 405.62 million and its net loss soared by 1.5 times, to Hr 119.9 million.

The share capital of the company totals Hr 69.092 million.