Additional share issue dilutes Gazprom Energoholding's stake in ES Vostok
MOSCOW. Feb 8 (Interfax) - OJSC RAO ES Vostok's additional share issue has diluted the stakes of two leading minority shareholders in the far eastern company, LLC Gazprom Energoholding and Seppo Remes' Cyprus-based Energyo Solutions, ES Vostok said in its materials.
The materials said that LLC Gazprom Energoholding's stake had decreased from 10.5% to 9.95% (4,522,789,100 shares) while Energyo Solutions' stake contracted from 5% to 4.75% (2,157,091,769 shares).
At the same time, the stakes held by members of ES Vostok's executive board and board of directors decreased; the holding's general director, Sergei Tolstoguzov, saw his stake decrease from 0.000232% (0.000244% of common shares) to 0.00022% (0.000231%); Pavel Shatsky - from 0.000028% (0.0000049%) to 0,000026% (0.0000046%); Ivan Savelyev - from 0.01164% (0.01223%) to 0.01105% (0,01158%); and Alla Vainilavichute - from 0.0000046% (0.0000049%) to 0000044% (0.0000046%).
Russia's Federal Financial Markets Service (FFMS) recently registered the results of the company's additional share placement for raising investment, ES Vostok said on Wednesday.
The holding placed 63.7% (or 2,316,068,930 shares at a face value 0.5 rubles each - around 1.2 billion rubles) of the additional share issue worth a total of 1.8 billion rubles. Shareholders in ES Vostok acquired 28.45% of the additional share issue by preferred right (the placement place was equal to face value).
The additional share issue consists of 3,636,867,919 common shares in ES Vostok at a face value of 0.5 rubles. The issue was registered at the end of May 2011.
The additional issue increased the company's capital by 5.4%. At the moment of placement, ES Vostok's charter capital came to 21,558,451,684 rubles divided into 2,075,149,384 preferred shares and 41,041,753,984 common shares at a face value of 0.5 rubles each.
ES Vostok plans to receive funds from the additional share placement. These funds have been earmarked in the federal budget as an injection in the company's capital. Therefore, the company's shareholders approved increasing available shares by 20 billion units.
It was earlier reported that the Russian budget for 2011-2013 has earmarked financing for ES Vostok with 1 billion rubles in 2011, 730 million rubles and 2.4 billion rubles in 2012 and 2013, respectively.
OJSC RAO ES Vostok was founded on July 1, 2008 following the reorganization of RAO UES Russia. The company manages power assets in Russia's Far East. Total installed capacity at the company's electricity stations comes to 8,785 megawatts.
RusHydro consolidated 69.316% in RAO ES Vostok in October thanks to the additional share issue. The bulk of this stake earlier was held by the state - 52.6832%. Inter RAO held 4.29%.