OGZD.L Regulatory News (OGZD)

10 Apr 2006 07:00

Oao Gazprom07 April 2006 April 7, 2006 Moscow OAO Gazprom filed Form F-6 with SEC in connection with upgrade of its Regulation S Depositary Receipt program to a Level I program Gazprom JSC filed a Form F-6 registration statement with the U.S. Securities andExchange Commission (SEC) on April 7, 2006. The purpose of the filing is toupgrade the Company's Regulation S Depositary Receipt (DR) program to a Level IDepositary Receipt program and simultaneously to change the conversion ratiofrom one DR equals ten ordinary shares to one DR equals four ordinary shares.Current Regulation S DRs will be automatically converted into Level I DRs at theratio given above. Under the Level I DR program, the depository receipts will be freely tradable inthe U.S. over-the-counter market, as well as in the European stock markets. Themaximum number of ordinary shares underlying all DRs will be restricted to 35%of Gazprom's issued share capital. The conversion ratio change will be implemented through the distribution ofadditional DRs among DR holders by the Gazprom DR program's depository - TheBank of New York - after the F-6 registration statement has been declaredeffective by the SEC. The upgrade of Gazprom's DR program to Level I will enable the conversion ofGazprom's ordinary shares into DR and vice versa (under current laws). Gazprom will make a formal announcement on the Level I DR program becomingeffective, and a conference call for investors and analysts will be held by thecompany shortly after that date. GAZPROM JSC MEDIA RELATIONS DEPARTMENT Phone: (095) 719-10-77, 719-49-37, 719-47-36, 719-28-01 Fax: (095) 719-90-08 e-mail: pr@gazprom.ru http:// www.gazprom.ru This press release is not an offer for sale of any securities in the UnitedStates. Any securities may not be offered or sold in the United States absentregistration or an exemption from registration under the U.S. Securities Act of1933, as amended. This press release is not a public offer or advertisement of securities in theRussian Federation, and is not an offer, or an invitation to make offers, topurchase any securities in the Russian Federation. This information is provided by RNS The company news service from the London Stock Exchange