JSC RusHydro Announces Commencement Date for Placement of Additional Issue
December 17th, 2010. Moscow, Russia. JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) has announced the securities placement for the Company's additional issue (State registration number: 1-01-55038-Е-039D, as of December 2nd, 2010). The beginning date for the placement is December 23rd, 2010. The final date for the placement is the 120th day after the date of the State registration of the additional issue or the placement date for the last share from the issue, whichever date is the earliest. The total issue volume is RUR 1,860,000,000; the issue will be placed via open subscription.
The placement price for the additional issue is 1 ruble and 61 kopeks for each additional common share. Notification for the commencement of the pre-emptive right was published in Izvestia newspaper and was also placed on the Company's corporate web site (http://www.rushydro.ru) on December 10th, 2010.
The pre-emptive right is valid for 45 days from the publication of the notification of the pre-emptive right. During this period, JSC RusHydro's shareholders can submit an application to acquire additional shares (pro rata to their stake in JSC RusHydro's charter capital as of September 14th, 2010) and pay for these additional shares. The cut-off date for determining which shareholders have pre-emptive rights was September 14th, 2010 - the date when the list of shareholders entitled to participate in the EGM, which adopted the decision on the charter capital increase, was compiled.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. 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 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, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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