NTER RAO UES sums up additional company share issue

Мая 24, 2011

On 17 May, 2011, INTER RAO UES completed its placement of additional shares. 6 822 972 629 771 additional shares were issued generating more than 365 billion rubles, based on an offer price of 0.0535 rubles per share.

As a result, the authorized capital of JSC INTER RAO UES increased 3.36 times and now stands at 272,997 billion rubles (with a face value of one share of ordinary stock at 0.02809767 rubles).
As of May 17, 2011, the main shareholders of JSC INTER RAO UES are: JSC INTER RAO Capital (a subsidiary of JSC INTER RAO UES) with 30% of shares, the FSK UES Group with 20%, Federal Property Management Agency with 14.8%, the Rosatom Group with 13.4%, VEB with 5.4%, and the RusHydro Group with 5.3%.
On the balance sheet of JSC INTER RAO Capital are the shares of JSC INTER RAO UES needed to complete the transaction with Norilsk Nickel's acquisition of shares in OGK-3, and shares reserved under the INTER RAO UES option program for future acquisition of assets. After completion of these transactions the share of the Norilsk Nickel Group in the capital structure of JSC INTER RAO UES will be 14.2%. The State will both directly and indirectly control about 60% of the shares in INTER RAO UES.
As a result of the placement of additional shares the total installed power capacity controlled by the INTER RAO UES Group is now almost 28,000 MW, which makes the company the second-largest in Russia based on this indicator.
Sales of electricity by sales companies currently controlled by JSC INTER RAO UES as of the end of 2010 totaled 117.6 billion kilowatt hours.
"One of the key objectives of the company's next phase is the integration of the assets acquired through the placement of additional JSC INTER RAO UES shares and the transition to a task management system. The main element of this system is the allocation of specialized divisions; in other words, the organization of the group along business lines. The ultimate goal of this transformation is to achieve development indicators approved by the INTER RAO strategy. By 2015, the company aims to be a leader in the Russian power sector, including in the field of the efficient management of energy assets with a focus on innovation. And by 2020, the company aims to be one of the world's ten largest energy companies in terms of installed capacity and size of business," said Boris Kovalchuk, Chairman of the Board of JSC INTER RAO UES.
INTER RAO UES is a diversified energy holding working in various segments of Russian and international electric power industry. INTER RAO UES is a leading exporter and importer of electric energy in Russia actively increasing its electricity generation and sales activities and developing new lines of business. INTER RAO UES corporate vision is focused on making the company a global energy enterprise and a key player in the international energy market. INTER RAO UES Group owns and operates over 28,800 MW of installed power generating capacity.