JSC MRSK Holding MRSK Presidential decree on renaming of MRSK Holding

  JSC MRSK Holding (MRSK) - Presidential decree on renaming of MRSK Holding

RNS Number : 9099R
MRSK Holding
23 November 2012




                                      

                                 MRSK Holding

Presidential Decree on Renaming of MRSK Holding and Inclusion of Government's
               Stake in Federal Grid Company into MRSK Holding

23 November 2012. Moscow, Russia. - MRSK Holding (LSE: MRSK) ("the  Company"), 
the largest electricity distribution grid  company in Russia, today  announces 
that on 22  November 2012 the  President of the  Russian Federation,  Vladimir 
Putin, signed a decree "On Open Joint Stock Company Russian Grids".

The decree stipulates that  MRSK Holding should be  renamed into OJSC  Russian 
Grids and a  79.55% stakeof the  State inJSCFederalGridCompanyshould  be 
included in the share capital of OJSC Russian Grids by the way of payment  for 
additional shares to be issued by OJSC Russian Grids by the State. 

The State ownership  in JSC  Federal Grid Company  should not  fall below  one 
share.

According to the decree, the above initiatives should be completed by 30  June 
2013.

The Company will provide  further clarification on  all stated initiatives  in 
the decree in due course. 



For further information:
MRSK Holding
Julia Martynova, IR                +7(495) 995 5333 (ext. 2070)
                                  
FTI Consulting                     
Larisa Millings / Marc Cohen       +44 20 7831 3113
Oleg Leonov / Maria Shiryaevskaya +7(495)795 0623

                                   



MRSK Holding is the  largest electricity distribution  grid company in  Russia 
and, the Company believes,  one of the  largest electricity distribution  grid 
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


CANFEEFDDFESELF -0- Nov/23/2012 13:43 GMT
 
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