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LSR Group

March 5, 2010

BoD decides on share issue, change in shareholding

Today, on 5 March 2010, the Board of Directors of OJSC LSR Group  (hereinafter the “Company”) has taken the decision to increase the Company’s share capital through placement of new ordinary registered book-entry shares by open subscription and approved the Decision on Additional Share Issue and Prospectus. The total number of shares to be placed is 16,042,508 shares, with a par value of RUR 0.25 each.

The placing price of the new shares, including the placing price for pre-emptive rights holders, will be defined by decision of the Company’s Board of Directors after the state registration of the additional issue and before the date of notification of pre-emptive rights holders of the option to exercise their pre-emptive right to buy new shares as provided for in Articles 40 and 41 of the Federal Law on Joint Stock Companies. The placing price of the new shares for pre-emptive rights holders if they exercise their pre-emptive rights will be 10 percent lower than for other persons, but not lower than the par value of the new shares being placed. The new shares are to be paid for on a non-cash basis in roubles and/or US dollars.

The placement commencement date will be the date of notification of shareholders of the opportunity to exercise their pre-emptive right to buy the new shares being placed, but not earlier than two weeks after the publication of the notice of state registration of the additional share issue in the RBC Daily newspaper.  

The placement completion date is defined as the earliest of the following dates:

ŕ) The sixth banking day from the publication date in the Interfax newswire and also on the Company’s Internet page ( of an invitation intended for an unlimited range of persons to make offers to buy the new shares; and

b) The date of placing of the last new share issued. However, the new share placement period  will not exceed one year from the date of state registration of the additional share issue.

Date of compilation of the list of shareholders who will have  pre-emptive rights to buy the new shares - 5 March 2010.


Also today, OJSC LSR Group has received notifications from two of its shareholders, Andrey Molchanov and Streetlink Limited, regarding a change in their shareholdings in the Company. According to the notifications, Andrey Molchanov transferred 53.39 percent of shares in the Company to Streetlink Limited, which is 100% owned by the former.

Andrey Molchanov’s shareholdings before change: 63.39%

Andrey Molchanov’s shareholdings after change: 10%

Streetlink Limited’s shareholdings before change: 4.99%

Streetlink Limited’s shareholdings after change: 58.38%




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