Urals Energy Plc Regulatory News (UEN)

30 May 2006 16:39

Urals Energy Public Company Limited30 May 2006 Urals Energy Public Company Limited FOR IMMEDIATE RELEASE OVER-ALLOTMENT OPTION EXERCISED Urals Energy Public Company Limited (the "Company") today announces that theover-allotment option granted by the Company in connection with its privateplacement of a total of 28,262,706 new shares (the "Placing Shares") on 26 May2006 has been exercised in full by Morgan Stanley Securities Limited ("MorganStanley), the Company's stabilising manager. The over-allotment option covers 2,826,270 shares - equivalent to 10% of thePlacing Shares. As a result of the exercise the Company will, subject tocompletion of the placement, have a total of 117,770,159 shares in issue and theCompany's free float will increase to approximately 52% of the issued shares.The total gross proceeds of the placement will now total approximately $209million. Morgan Stanley acted as lead manager in connection with the private placement. The placement of shares is conditional upon, inter alia, admission of thePlacing Shares to trading on the Alternative Investment Market of the LondonStock Exchange ("Admission") and upon an increase of the Company's authorizedshare capital to CY£625,000 and authorization to disapply pre-emption rights inrelation to 57,000,000 shares at the Annual General Meeting of the Company to beheld on 1 June 2006. It is expected that Admission will become effective andthat dealings in the Placing Shares will commence on 2 June 2006. 30 May 2006 Pelham PRJames Henderson 020 7743 6673Gavin Davis 020 7743 6677 This announcement has been issued by and is the sole responsibility of UralsEnergy Public Company Limited. This announcement is for information purposes only and does not constitute anoffer or invitation to acquire or dispose of any securities or investment advicein any jurisdiction. This announcement does not constitute an offer to sell orissue or the solicitation of an offer to buy or acquire any securities in thecapital of Urals Energy Public Company Limited in the United States or in anyjurisdiction in which such an offer or solicitation is unlawful and should notbe relied upon in connection with any decision to acquire the Placing Shares orany other securities in the capital of Urals Energy Public Company Limited.Morgan Stanley Securities Limited ("Morgan Stanley"), which is authorized andregulated by the Financial Services Authority, is acting exclusively for UralsEnergy Public Company Limited in connection with the private placement andno-one else and will not be responsible to anyone other than Urals Energy PublicCompany Limited for providing advice in relation to the private placement or anyother matter referred to in this announcement. The Placing Shares have not been and will not be registered under the U.S.Securities Act of 1933 as amended (the "Securities Act") and, subject to certainexceptions, may not be offered or sold in the United States (as such term isdefined in Regulation S under the Securities Act). Accordingly, the PlacingShares are being offered and sold only in "offshore transactions" as defined andin accordance with Regulation S under the Securities Act. This information is provided by RNS The company news service from the London Stock Exchange