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Unified Energy System

March 22, 2005

OAO "TGC-8" completes state registration

Moscow, 22 March 2005. Today, OAO "Territorial Generation Company No. 8" (OAO "TGC-8") was registered with the Inspectorate of the Federal Tax Service of Russia for Kirovsky District, city of Astrakhan.

Pursuant to the Resolution of RAO "UES of Russia" On the Establishment of OAO "TGC-8", Victor Gvozdev (currently CEO of OAO "Nevinnomysskaya TPP") was appointed Director General of the newly established company.

Besides Victor Gvozdev, the following persons were elected to the Board of Directors of OAO "TGC-8": Danil Nikitin, Deputy Managing Director, Executive Director of Business Unit No. 1 at RAO "UES of Russia"; Yury Dolin, Deputy Managing Director, Executive Director of Business Unit No. 1 at RAO "UES of Russia"; Andrey Gabov, Head of Corporate Governance Department at RAO "UES of Russia"; Dmitry Melnikov, Project Manager of the Center for Implementation of Reform Projects at RAO "UES of Russia"; Dmitry Shtykov, Director General, Institute of Professional Directors Foundation; Valery Nepsha, Deputy Director General, Institute of Professional Directors Foundation; Alexander Orlov, Olga Parkhomuk, Artem Ugryumov, and Maxim Shulin, Advisors with the Institute of Professional Directors Foundation.

The resolution to establish OAO "TGC-8" as a wholly-owned subsidiary of OAO RAO "UES of Russia" was approved by the Board of Directors of RAO "UES of Russia" on 29 October 2004.

The charter capital of OAO "TGC-8" at the time of establishment will be RUB10 million and will be divided into 1 billion ordinary shares.

Within one month after the state registration of the company, OAO RAO "UES of Russia" will acquire, for cash consideration, at least 50% plus one voting share in OAO "TGC-8".

The Board of Directors of RAO "UES of Russia" approved the lease to OAO "TGC-8" of the generation assets owned by OAO "Astrakhan Regional Generation Company", OAO Volzhskaya Generation Company", OAO "Kubanenergo" (after the reorganization of OAO "Kubanenergo" assets of OAO "Kuban Generation Company"), OAO "Rostov Generation Company", Kaspiyskaya TPP and Makhachkalinskaya TPP of OAO "Dagenergo" (after the reorganization of OAO "Dagenergo", the assets of OAO "Dagestan Heat Generation Company"), Kislovodskaya TPP of OAO "Stavropolenergo" (after the reorganization of OAO "Stavropolenergo", assets of OAO "Stavropol Heat Generation Company").

Later on, shareholders of the generation companies (regional energos) leasing their assets to OAO "TGC-8" will be offered shares in OAO "TGC-8".

OAO "TGC-8" is under the charge of Business Unit No. 1 of RAO "UES of Russia" headed by Mikhail Abyzov, member of the Management Board of OAO RAO "UES of Russia".

 

 

 

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