Bank of Russia registered RusHydro’s additional share issue
August 28, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Bank of Russia registered additional share issue of 14,013,888,828 ordinary shares with state registration number 1-01-55038-E-043D on August 27, 2018. The Securities Prospectus was registered by the Central Bank of the Russian Federation simultaneously with the share issue.
Total number reflects potential execution of preemptive right to buy newly issued shares by existing shareholders.
Notification of shareholders’ preemptive rights in accordance with the current legislation will be published on Interfax wire and on the Company’s website.
The decision to increase PJSC RusHydro’s authorized capital by placing additional shares has been approved by the Board of Directors on June 21, 2018 in order to implement the project for construction of two single-circuit 110 kV Pevek-Bilibino overhead lines in Chukotka region
The Group is implementing the project for construction of high-voltage overhead lines in light of upcoming reconstruction of the Chaun-Bilibino power system following decommissioning of the Bilibinskaya nuclear power plant. Construction of 110 kV lines is essential for the development of the power system of Chukotka Autonomous Region as well as for general sustainable development of the Far East power system. The project funding will come from additional share issue in the amount of RUB 13 bn.
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 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