Moscow, 23 March 2005. On 17 March 2005, the East-Siberian Regional Division of the Federal Service for the Financial Markets of Russia registered the issue of ordinary shares of OAO "Territorial Generation Company No. 14" (OAO "TGC-14"). Simultaneously, the regulator registered the resolution on the share issue and the report on the results of this issue.
According the resolution on share issuance and share placement report, OAO "TGC-14" placed 3.1 billion ordinary shares, par value RUB0.001, for a total value of RUB3.1 million. The state registration number assigned to the share issue is 1-01-22451-F.
OAO "TGC-14" was registered on 7 December 2004 with the Inspectorate of the Ministry of Taxes and Levies of the Russian Federation for Ingodinsky Administrative District, city of Chita.
The resolution to establish OAO "TGC-14" as a wholly-owned subsidiary of OAO RAO "UES of Russia" was approved by the Board of Directors of RAO "UES of Russia" on 3 September 2004.
The Director General of OAO "TGC-14" is Vladimir Alferov, who currently serves as a member of the Management Board of OAO "Buryatenergo" and OAO "Chitaenergo".
The charter capital of OAO "TGC-14", at the time of establishment, is RUB3.1 million. Within one month after the state registration of the company, OAO RAO "UES of Russia" acquired, for a cash consideration, at least 50% plus one voting share in OAO "TGC-14". The rest of the shares will be held by OAO "TGC-14" and subsequently offered to minority shareholders of OAO "Buryatenergo" and OAO "Chitaenergo".
On 3 September 2004, the Board of Directors of RAO "UES of Russia" approved the lease of the generating assets of OAO "Buryatenergo" and OAO "Chitaenergo" to OAO "TGC-14".