JSC MRSK Holding (MRSK) - Subsidiary Acquires Shares
RNS Number : 2550Q
02 November 2012
MRSK Holding's subsidiary acquires shares in JSC Kubanenergo and JSC TRK
November 2, 2012 - Moscow, Russia - MRSK Holding (LSE: MRSK), the largest
electricity distribution company in Russia, today announces the acquisition by
JSC Tumenenergo, its wholly owned subsidiary, of shares in two other
subsidiaries of MRSK - JSC Kubanenergo and JSC TRK.
Following the acquisition of 27260040 ordinary shares of JSC Kubanenergo,
the voting share of JSC Tumenenergo in JSC Kubanenergo amounts to 19.07%.
As a result of the acquisition of 979267684 ordinary shares of TRK, JSC
Tumenenergo's voting stake in JSC TRK amounts to 25.64%.
MRSK's direct ownership in shares of JSC Kubanenergo and JSC TRK amounts to
63.01% and 59.88%, respectively.
* * *
For further information:
Maria Stepanova, Head of IR +7(495) 995 5333 (ext. 6724)
Larisa Millings / Marc Cohen +44 20 7831 3113
Oleg Leonov / Maria Shiryaevskaya +7(495)795 0623
MRSK Holding is the largest electricity grid distribution company in Russia
and, the Company believes, one of the largest electricity grid distribution
companies in the world by length of distribution lines and installed
transformer capacity. MRSK Holding holds interests in and manages 11
interregional and five regional distribution grid companies in Russia. As at
31 December 2011, MRSK Holding together with its subsidiaries owned and
operated approximately 2.1 million kilometres of electricity distribution
lines with a total installed transformer capacity of approximately 395 GVA.
Through its subsidiaries, the Company operates in 69 regions of Russia,
covering an area of approximately 7.8 million square kilometres occupied by
approximately 85 percent of Russia's total population according to Rosstat.
The Company reported revenues of RUB 302.7 billion and net profit of
RUB15.6billion for the first half of 2012.
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 MRSK Holding. 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 MRSK Holding
and its operations.
This information is provided by RNS
The company news service from the London Stock Exchange
MSCBKBDBPBDDQDK -0- Nov/02/2012 15:26 GMT
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