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October 22, 2007

IFC METROPOL and JP Morgan acted as financial advisers on placing of shares of additional issue of Open Joint Stock Company «YuGK TGK-8 »

On 18th of October 2007 preliminary results of placing of additional issue and sale of government’s shares in YuGK TGK-8 were summed up.
On 18th of October 2007 the Board of Directors of Open Joint Stock Company “Southern generating company TGK-8” (YuGK TGK-8) on the basis of analysis of investors’ applications set a price for placing of one additional share 0.035 rbl. and volume of placing of additional shares in the amount of 685 714 285 715 pieces (about 33 % of the authorised capital of the company after placing), and commission on sale of the government’s shares set a price of shares of YuGK TGK-8 (0.035 rbl. as well) held by RAO UES of Russia and being a share of the government in the amount of 492 756 605 505 pieces.
Two applications of one investor -  company Gatecraft Ltd. - were subjected to consideration of the Board of Directors of YuGK TGK-8 and in the commission on sale of the government’s shares. In the first application there was a proposal of repurchase of the whole volume of additional issue with the deduction of those shares which will be purchased by shareholders of YuGK TGK-8 within the framework of exercising of the pre-emptive right by them, and in the second application there was holding of shares from the "government’s" share, at one price - 0,035 roubles per share. The Board of Directors and the commission on sale of the government’s shares made the decision on fulfilling of the specified applications.
As a result of placing of additional issue of shares YuGK TGK-8 will raise 24 billion roubles or $963 million. The volume of transaction on sale of the government’s shares of YuGK TGK-8 is estimated at 17 billion roubles or more than $682 million. Thus, the cumulative volume of the raised funds within the framework of placing of additional issue and sales of shares of YuGK TGK-8 from the "government’s" share will exceed 41 billion roubles or more than $1,7 billion.
Financial advisers of YuGK TGK-8 on placing of additional issue of shares of YuGK TGK-8 are companies JPMorgan plc and IFC METROPOL. IFC METROPOL is also a financial adviser of RAO UES of Russia on sale of shares of YuGK TGK-8 accounting for the "government’s" share.
Reference
YuGK TGK-8 was registered in Astrakhan on 22nd of March, 2005. The total installed capacity of stations of the company - 3602 MW as for electric-power generation and 13336 Gcal/h as for heat power generation.  In August, 2006 shares of YuGK TGK-8 were allowed for circulation on Close Joint Stock Company “FB MMVB”, Open Joint Stock Company “FB RTS”,  NP “FB RTS”. On 28th and 29th of December, 2006 the Boards of Directors of “FB MMVB” and Open Joint Stock Company “RTS” accordingly made decisions on inclusion of ordinary shares of YuGK TGK-8 in quotation list “B”.


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"METROPOL" Investment Financial Company Ltd.
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