20 Jul 2015 14:13
PJSC ROSSETI
Resolutions of the Boards of Directors regarding ROSSETI EGM
20 July 2015. Moscow, Russia. - PJSC ROSSETI (LSE: RSTI) (the "Company"), the largest electricity transmission and distribution grid company in Russia, today announces that the Board of Directors, at a meeting held on 16 July 2015, has set the agenda of the Company's Extraordinary General Meeting of Shareholders ("EGM") on 17 August 2015 as follows:
1) Determination of the amount, par value, category (type) of the Company's authorized shares and rights attached thereto.
2) Approval of amendments to the Company's Charter.
3) An increase in the authorized capital of the Company by means of placement of additional shares.
The Company's Board of Directors recommended to the EGM to adopt the following resolution:
to increase of the authorized capital of PJSC ROSSETI by means of the placement of sixty-four billion, three hundred fifty five million, eight hundred and twelve thousand, one hundred forty-three (64,355,812,143) additional uncertificated ordinary shares, each with a par value of one (1) ruble, with the total par value of sixty-four billion, three hundred fifty five million, eight hundred and twelve thousand, one hundred forty-three (64,355,812,143) rubles subject to the following basic terms and conditions:
1) placement method: public offering;
2) offering price (including with respect to the persons included on the list of the persons having the preemptive right to acquire placed additional shares) of one additional share: 1 ruble;
3) method of payment for additional shares: payment for additional shares is made in cash in Russian rubles by bank transfer into PJSC ROSSETI settlement account, and other than in cash (in kind):
- Federal Loan Bonds of issues 29006RMFS, 29007RMFS, 29008RMFS, 29009RMFS, 29010RMFS;
- by transfer of uncertificated registered ordinary shares of the following companies: Open joint-stock company «Kineshma's city electric system», Open joint-stock company «Vichuga's city electric system», Open joint-stock company «ElS», «Interregional Distribution Grid Company of Centre», Public Joint-Stock Company, «Interregional Distribution Grid Company of Center and Volga Region», Public Joint Stock Company, Public Joint Stock Company «Interregional Distribution Grid Company of Siberia», «Interregional Distribution Grid Company of South», Public Joint Stock Company, «Interregional Distribution Grid Company of Volga», Public Joint Stock Company, «Interregional Distribution Grid Company of Urals», Joint Stock Company, Joint-stock Company «Tuvaenergo», Public-stoсk company «Tomsk distribution company», Kabardino-Balkaria Energy and Electrification Company, Joint-Stock Company, Kuban power and electrification public joint stock company;
- property and real estate for facilitation of electricity to Valaam island (Karelia Republic); already in operation and registered in accordance with relevant regulations;
- substations and electrical grids (10 kW and 0.4 kW) for facilitation of construction works in the Adler region (Sochi);
- electrical grids (10 kW and 0.4 kW) in the Imeretinskaya lowlands (Sochi).
Holders of the Company's preferred shares are entitled to vote on all items of the EGM's agenda.
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For further information:
PJSC ROSSETI
Maria Stepanova, Head of IR +7(495) 995 5333 (ext. 3961)
Yulia Martynova, IR +7(495) 995 5333 (ext. 3834)
EM
Thomas Kiehn +7 (495) 363 2846
Yuri Krebs +7 (495) 363 2840
PJSC ROSSETI is the largest electricity transmission and distribution grid company in Russia. It is also one of the largest electricity transmission and distribution grid companies in the world by length of electricity lines and installed transformer capacity. PJSC ROSSETI holds interests in and manages 16 distribution grid companies and transmission grid company in Russia. The Company together with its subsidiaries owns and operates 2.3 million kilometers of electricity transmission and distribution lines with a total installed transformer capacity of 750.9 GVA. The Company operates in 78 regions of Russia.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PJSC Rosseti. You 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. 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, rapid technological and market change in our industry, as well as many other risks specifically related to PJSC Rosseti and its operations.