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RusHydro announces the completion of share placement

JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces the results of open subscription to the Company’s shares of additional issue (state registration number 1-01-55038-Е-041D of December 3, 2012).

The number of issued shares totaled 68,617,944,796 priced at RUB 1 per share, or 62.38% of the total approved amount (with par value of RUB 1 per share).

RusHydro’s shareholders as of October 11, 2012 could exercise the pre-emptive right to acquire the Company’s shares from December 19, 2012 to February 26, 2013. During this period shareholders could submit applications to acquire the Company’s additional shares pro rata their shareholding in the Company’s share capital and pay for the shares both in cash or ordinary shares of the companies included in the list approved by the Extraordinary Meeting of Shareholders (EGM), based on the valuation of these shares approved by the Board of Directors of RusHydro on January 29, 2013. The open subscription to newly issued shares started on March 12, 2013 and ended on November 1, 2013 (the actual end date of placement was November 26, 2013). In accordance with article 8.3 of the “Decision on additional share issue” the Company had the right to decide whether to accept or decline received offers. 

The increase of RusHydro’s share capital by issuance and placement through open subscription of 110 bn additional ordinary shares with a par value of RUR 1 was approved by the EGM on November 16, 2012.

The total value of funds contributed to the Company’s share capital amounted to RUR 50,022,422,712.46, including RUR 50 bn received from the federal budget to finance construction of the thermal power facilities in the Far East in compliance with the President’s decree no. 1564 of November 22, 2012. The total value of assets contributed as payment for the Company’s shares of additional issue amounted to RUB 18,595,522,083.54.

Thus, the number of shares placed among shareholders and paid in cash totaled 50,022,422,712.46, and 18,595,522,083.54 shares paid in non-cash assets.

The detailed information on received assets will be made available after the state registration of the report on additional issue of RusHydro’s shares by the Central Bank of Russia.

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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