RNS Number : 5677A
JSC Inter RAO UES
02 April 2012
INTER RAO UES controlled company entered into a major transaction
Moscow, April 2, 2012 - Open Joint Stock Company "INTER RAO UES" ("INTER RAO UES", "Company", ticker on MICEX-RTS, LSE (Reg. S): IRAO; on LSE (Rule 144 A): IRAA), the largest diversified utilities holding in Russia, announces that on March 29, 2012 Nizhnevartovsk Power Station (or CJSC Nizhnevartovsk GRES; "Pledger"), a company indirectly controlled by INTER RAO UES, has entered into several agreements of pledge of movable property and mortgage agreements which in conjunction are a major transaction for Nizhnevartovsk Power Station. The total amount of the said transactions is 4 988 403 094 RUB (approx. £99 768 062).
Under the stated above agreements Nizhnevartovsk Power Station ("Pledger") has pledged shares to the companies TNK-BP International Ltd. and TNK-BP Holding JSC ("Pledgees") for the term of enforcement of the secured obligations.
Entering into the stated above agreements was approved by the General Shareholders Meeting of Nizhnevartovsk Power Station on March 20, 2012.
In addition, on March 29, 2012 a company NVGRES HOLDING LIMITED ("Pledger"), a company indirectly controlled by INTER RAO UES and registered under the laws of the Republic of Cyprus, has executed several agreements of pledge of Nizhnevartovsk Power Station shares with TNK-BP International Ltd. and TNK-BP Holding JSC ("Pledgees"). The total amount of the said transactions is € 685 797 829. Under the stated above agreements NVGRES HOLDING LIMITED ("Pledger") has pledged shares to the companies TNK-BP International Ltd. and TNK-BP Holding JSC ("Pledgees") for the term of enforcement of the secured obligations. Entering into the aforesaid agreements was approved by the Extraordinary General Shareholders Meeting of NVGRES HOLDING LIMITED on March 20, 2012.
The foregoing information is disclosed in compliance with the Securities Act of the Russian Federation.
For further information, please contact INTER RAO UES:
Irina Makarenko Head of Investor Relations +7 495 967-05-27 (ext. 2008)
Anton Nazarov Head of Public Relations +7 495 967-05-27 (ext. 2208)
Svetlana Chuchaeva Head of Corporate Relations +7 495 967-05-27 (ext.2081)
INTER RAO UES is a diversified utilities holding headquartered in Moscow and managing assets in different countries. The company produces and sells electric energy and heat, trades energy on the international market, and engineers, designs and builds generating assets. INTER RAO UES Group owns and operates approximately 28,000 MW of installed power generating capacity. INTER RAO UES corporate strategy is focused on making the company a global energy enterprise and a key player in the international energy market.
For further information see www.interrao.ru
This announcement is not intended to, and does not constitute, or form part of, an offer to sell or an invitation to purchase, exchange or subscribe for any securities in any jurisdiction. This announcement does not constitute a prospectus or a prospectus equivalent document.
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