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Unified Energy System

July 1, 2005

FSFM of Russia registers prospectus of OAO "WGC-5"

Moscow. 1 July 2005. On 30 June 2005, the Federal Service for Financial Markets registered the Prospectus of the share issue of OAO "Fifth Generation Company of the Wholesale Electricity Market" (OAO "WGC-5"). The shares had been issued to the only founder of the company, OAO RAO "UES of Russia".

According to the Prospectus filed with the FSFM of Russia, OAO "WGC-5" issued 29,407,170,459 ordinary shares, par value of RUB1 per share, the total value of the share issue making RUB29,407,170,459.

The share issue and placement report of OAO "WGC-5" was registered by the FSFM of Russia at the meeting held 24 December 2004.

 

OAO "WGC-5" was registered on 27 October 2004 in the city of Yekaterinburg. A decision to establish OAO "WGC-5" as a wholly owned subsidiary of OAO RAO "UES of Russia" was taken by the Board of Directors of RAO "UES of Russia" on 3 September 2004.

At the meeting held 24 June 2005, the Board of Directors of RAO "UES of Russia" took a number of resolutions which make it possible to finalize the establishment of OAO "WGC-5".

It is planned to complete the share exchange at OAO "WGC-5" by Q3 2005 and the merger of the subsidiary power plants with and into OAO "WGC-5" by the beginning of Q1 2006.

Pursuant to Order of the Government of the Russian Federation No. 1254-r of 1 September 2003, the following companies were included in OAO "WGC-5": OAO "Konakovskaya TPP", OAO "Nevinnomysskaya TPP", the property of the Reftinskaya TPP and the Sredneuralskaya TPP.

 

 

 

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