RusHydro’s Board of Directors approved sale of stake in PJSC Inter RAO UES
July 3, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting on June 27, 2018.
The Board of Directors approved divestment by PJSC RusHydro and its subsidiaries of shares held in PJSC Inter RAO UES in the total amount of 5,131,669,622.18 representing 4.915% of authorized share capital of PJSC Inter RAO UES to JSC Inter RAO Capital for RUB 3.3463 per share.
PJSC RusHydro acquired shares of PJSC Inter RAO UES in 2011 in a non-cash transaction to exchange shares of electric utilities companies (OGK-1, Mosenergosbyt, Petersburg Power Supply Company and others) held by RusHydro to a shareholding in PJSC Inter RAO UES.
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