IR Releases

28.11.2012

JSC IDGC of Urals purchased stake in JSC Lenenergo

JSC IDGC of Urals purchased stake in JSC Lenenergo from LLC STS Corporation, previously owned by I.D.E. Electricity Distribution Investments 1 Limited, controlled by CJSC Integrated Energy Systems.

On November 20, 2012, a transaction on the exchange of shares of JSC Kurganenergo owned by JSC IDGC of Urals for 8.46% of shares in the authorized capital of JSC Lenenergo controlled by LLC STS Corporation was held.At the moment, the issuer has not received the official notification of the transaction.

On 11.09.2012, the Board of Directors of JSC IDGC Holding considered the transaction scheme to exchange the shares of JSC Kurganenergo in the amount of 78,887,994 shares owned by JSC IDGC of Urals for ordinary shares of JSC Lenenergo in the amount of 81,119,240 shares and preferred shares in the amount of 22,750,128 shares, which previously had passed under the control of LLC STS Corporation from CJSC Integrated Energy Systems, with an additional charge of LLC STS Corporation in cash in the amount of RUB 800 million.

The market value of shares of JSC Kurganenergo is determined on the basis of the statement of the market value of one ordinary share in 49% of the authorized capital of JSC Kurganenergo made by LLC Ernst & Young – the evaluation and consulting services, and constitutes of RUB 2,743,724 thousand.

The amount of the transaction on the exchange of shares of JSC Kurganenergo for the stake in JSC Lenenergo including the extra payment charged from LLC STS Corporation in the amount of RUB 800 million is equal to the market value of shares of LLC Kurganenergo as defined in the statement of the market value.

For reference:

JSC Kurganenergo is a distribution grid company located in the Kurgan region, which provides services for transmission and distribution of electric energy to consumers and services for technological connection to electric grids. JSC IDGC of Urals owned 53.81% of ordinary shares and 49% of the authorized capital of JSC Kurganenergo.

The authorized capital of JSC Lenenergo constitutes RUB 1,228,325,624.08 and is divided into 1,228,325,624 and 8/100 shares with a par value of 1 ruble each, including 1,135,061,313 and 8/100 ordinary shares and 93,264,311 preferred shares.

Structure of the authorized capital, % of ordinary shares considering the transaction held: