JSC MRSK Holding (MRSK) - Subsidiary Acquires Shares RNS Number : 2550Q MRSK Holding 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: MRSK Holding Maria Stepanova, Head of IR +7(495) 995 5333 (ext. 6724) FTI Consulting 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 END MSCBKBDBPBDDQDK -0- Nov/02/2012 15:26 GMT
JSC MRSK Holding MRSK Subsidiary Acquires Shares
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