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RusHydro announces preliminary results of tender offer for shares of RAO ES of the East

PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that as a result of the voluntary tender offer from Vostok-Finance LLC (100% subsidiary of PJSC RAO ES of the East) for purchase of common and preferred shares of PJSC RAO ES of the East shareholders of the Far Eastern subsidiary of RusHydro have submitted offers to sell ordinary and preferred shares comprising in aggregate 11.225% of the company’s charter capital.

In accordance with the terms of the voluntary tender offer the shareholders were entitled to exchange PJSC RAO ES of the East ordinary and preferred shares into ordinary shares of PJSC RusHydro at a price of RUB 0.5768 per share (calculated as a weighted average price for the past six months prior to tender offer announcement). The corresponding conversion ratios were: 0.6068 shares of PJSC RusHydro for 1 ordinary share of PJSC RAO ES of the East and 0.3814 shares of PJSC RusHydro for 1 preferred share of PJSC RAO ES of the East. The shareholders also could sell ordinary and preferred shares of PJSC RAO ES of the East at RUB 0.35 and RUB 0.22 respectively.

The tender offer has been made pursuant to the approved long-term development plan of RusHydro Group aimed at increase in efficiency of the management of RAO ES of East holding.

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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