13 Nov 2013 10:07
Federal Grid Board Approves Share Issue
Moscow, 13 November 2013- Federal Grid Company of Unified Energy System ("Federal Grid Company" or "the Company") (Moscow Exchange, LSE: FEES), part of the Russian Grids Groupof companies and operator of Russia's unified electricity transmission grid system, announces that yesterday its Board of Directors approved an increase of the Company's share capital by way of issuance of 9,431,399,773 new ordinary shares with a nominal value of RUB 0.50 per share, representing a total amount of RUB 4,715,699,886.5
The Board of Directors also approved the additional share issue and the regulatory prospectus.
In accordance with today's decision, Federal Grid Company may place additional shares through an open subscription at a price determined by the Board of Directors, following state registration of the share issue and after the expiry of the limitation period for exercise of pre-emptive rights. The price of the shares that will be placed among the shareholders having pre-emptive rights to purchase newly-issued shares in an amount pro rata to the number of ordinary shares owned on the date when the Board of Directors took the decision on the share capital increase 12 November 2013 will be determined within the same period.
Enquiries:
Contacts | ||
Analysts / Investors | ||
Federal Grid IR team | Work |
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Alexander Duzhinov | +7 (495) 710 9064 |
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Nadezda Sukhova | +7 (495) 710 9541 |
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Egor Toropov | +7 (495) 710 9333 ext. 2275 |
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Vladimir Baklanov | +7 (495) 710 9333 ext. 2926 |
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International Media | ||
EM | Work | Mobile |
Tom Blackwell | +7 (495) 363 2841 | +7 (919) 102 9064 |
Sam VanDerlip | +44 20 7920 2356 | +44 7554 993 032 |
About Federal Grid Company
Federal Grid Company is part of OJSC Russian Grids is the operator and manager of Russia's unified electricity transmission grid system. The company operates over 131,000 km of transmission lines and has over 334.8 GVA of installed transformer capacity. Based on the length of transmission lines and transformer capacity in place, Federal Grid is the largest publicly traded electricity transmission company in the world.
Federal Grid's business is to provide electricity transmission and technological connection services.It maintains and develops the grid system and supervises grid facilities and infrastructure in75 regions of Russia, covering a territory of 14.8 million square kilometres. Its customers are regional distribution companies, electricity suppliers and large industrial enterprises. The Company is a natural monopoly with 80,6% stake controlled by Russian Grids.
Federal Grid Company was incorporated in June 2002 as part of reorganisation of Russia's electrical power industry.
Federal Grid Company's common shares are included on Moscow Exchange under the ticker FEES and the Company's GDRs are listed on the London Stock Exchange and traded under the same FEES symbol.
In 2012 the Company's IFRS consolidated revenue was RUB 140,313 million, while adjusted EBITDA was RUB 82,133 million, and adjusted profit for the period was RUB 29,956 million.
Further information can be found at www.federal-grid.com
Further information about Russian Grids can be found at www.rugrids.ru/eng