28th Feb 2013 12:11
February 28th, 2012
RusHydro obtains stakes in four companies in ongoing share offering
JSC RusHydro announces that during pre-emptive rights period, ended on February 26, 2013, RusHydro, together with the shares owned by the companies of the Group, obtained stakes of the following companies:
- more than 25% of voting ordinary shares of Sakhalin energy company and Irkutsk electronetwork company;
- more than 75% of voting ordinary shares of RAO Energy Systems of East;
- more than 95% of voting ordinary shares of Ust'-Srednekanskaya HPP.
RusHydro increased its shareholding in the above-mentioned companies after the Russian Federation contributed the ordinary shares of these companies as payment for RusHydro's shares of additional issue.
Company | Type of shares | Price per share (RUR) | Number of shares | RusHydro's holding (incl. ownership of companies of the Group) before change | RusHydro's holding (incl. ownership of companies of the Group) after change |
JSC RAO Energy Systems of East | Ordinary | 0.35 | 1 492 472 400 | 73.43% | 76.72% |
JSC Sakhalin energy company | Ordinary | 736 | 2 478 568 | 20.09% | 44.63% |
JSC Ust'-Srednekanskaya HPP | Ordinary | 1.96 | 2 649 171 000 | 85.17% | 100% |
JSC Irkutsk electronetwork company | Ordinary | 4.29 | 1 973 711 982 | 0.16% | 42.53% |
The market price of property to be used as payment for additional shares was determined by the independent appraiser, the Institute for Enterprise Issues (St. Petersburg).
The information on the number of shares of additional issue placed during pre-emptive rights period and the results of the pre-emptive rights execution including cash payment for RusHydro's shares of additional issue will be made available later, in compliance with regulatory requirements.
The increase of RusHydro's share capital by issuance and placement through open subscription of 110 bn additional ordinary shares with a par value of RUR 1 was approved by the EGM on November 16, 2012.
For more information:
JSC RusHydro, Investor Relations Department
Tel. +7 (495) 225-3232 ext. 1319, 1394, 1607
DISCLAIMER
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements.
We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.
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