Results of the Board of Directors on November 22, 2012
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on 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 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 16, 2012.
The placement aims to raise budget funds to finance the modernization of the generating assets in the Far East.
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.
Shares / ADR