17 Jun 2011 07:17
June 17th, 2011
Director Shareholding
JSC RusHydro (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) has been informed that Mr. Evgeny Dod, Chairman of the Management Board and member of the Board of Directors of RusHydro, has increased his shareholding in the Company from 0.0044% to 0.01% as of June 16th, 2011. The Company was notified of the change June 16th, 2011.
The shares were acquired for proceeds from stock options of JSC Inter RAO, where Mr. Dod was Chairman of the Management Board before joining RusHydro.
Mr. Dod commented on the transaction: "I'm confident that RusHydro shares are currently fundamentally under-valued and have significant growth potential. As of today, the market price is even lower than the strike price for the ESOP we launched in late 2010. The Board of Directors has set a goal to increase the Company's market capitalization to ca. USD 40 bln. by 2015. I'm confident that we are fully capable of attaining such an ambitious growth target for business and market capitalization, both via organic growth and M&A, as well as by strengthening the trust of market participants in the Company and the Russian economy as a whole."
The above information is disclosed in compliance with the Securities Act of the Russian Federation.
For more information:
JSC RusHydro, Investor Relations Department
Tel. +7(495) 225-3232 ext.1319, 1394, 1607
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One 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 and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.