JSC RusHydro (92XY) - Results of the BoD on November 22,2012
RNS Number : 9658R
26 November 2012
November 26^th, 2012
Results of the Board of Directors on November 22, 2012
JSC RusHydro announces that the Company's Board of Directors held a meeting
in absentia, November 22, 2012.
The Board of Directors approved the decision on additional issue of RusHydro's
shares and the Securities Prospectus. The new shares will be placed through
open subscription and can be paid in cash and non-cash assets.
The Board of Directors commissioned the management of the Company to obey the
Federal law on privatization of the state and municipal property dated
December 21, 2012 No. 178-FZ while increasing the Company's share capital and
registration of the decision on additional shares issue by the FFMS of Russia
not earlier than publication of the President's decision on increase of
RusHydro's share capital.
The price of placement of new shares is subject to a Board of Directors
approval after independent appraisal but prior to the start of the placement.
The increase of RusHydro's share capital through issuance and placement of 110
bn ordinary shares with a par value of RUR 1 was approved by EGM on November
The placement aims to raise budget funds to finance the modernization of the
generating assets in the Far East.
For more information:
JSC RusHydro, Investor Relations Department
Tel. +7 (495) 225-3232 ext. 1319, 1394, 1607
The information in this press release may contain projections or other
forward-looking statements regarding future events or the future financial
performance of RusHydro. One 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 from these statements.
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 and rapid
technological and market changes in our industries, as well as many other
risks specifically related to RusHydro and its operations.
This information is provided by RNS
The company news service from the London Stock Exchange
STRBFBFTMBITMFT -0- Nov/26/2012 07:00 GMT
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