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RusHydro

July 10, 2009

RusHydro announces invitation to submit bids to purchase additional shares through open subscription in the course of the Company’s additional share issue

On July 10, 2009, RusHydro has published an official invitation to potential investors to submit bids to purchase additional shares through an open subscription within the framework of the additional share issue registered by the Russian Federal Service for Financial Markets (FSFM) on May 14th, 2009. (The overall size of the issue – 16 bln shares, placement method - open subscription.)

The official invitation to submit bids is available on RusHydro’s website (https://www.rushydro.ru) and was also distributed via wire services. The forms, which are recommended for legal entities and individuals applying for additional shares, are also available on the site.

The period to submit bids is 30 days. According to Issue Standards and Provisions on the registered decision for an additional issue of securities, RusHydro satisfies potential buyers’ bids at its own discretion. The decision on the satisfaction of bids should be made no later than the last day of the period for submitting bids.

On July 07, 2009, the results of the purchase by RusHydro shareholders of additional shares in the Company as a result of the exercise of their pre-emptive right have been summarized. 

The pre-emptive rights were valid from May 19th, 2009 through July 2nd, 2009.  During this period, RusHydro shareholders were able to submit applications to purchase additional shares in direct proportion to their existing stake in the Company's charter capital and to pay for their additional shares.

The list of shareholders entitled to participate in the pre-emptive rights issue was compiled as of October 8, 2008 (which was the cut-off date for the shareholders list, for those who had the right to participate in the AGM which approved the Company’s charter capital increase).

As part of the exercise of pre-emptive rights, RusHydro has placed 7.2 billion additional shares (or 45% of the size of the additional issue).

The Government of the Russian Federation has purchased additional shares worth RUR 4.923 billion, thereby contributing to the Company's charter capital funds to finance RusHydro's investment program according to the Russian Federal Law "On the Federal Budget for 2009 and for the planned period of 2010 and 2011."

The Company's minority shareholders have contributed RUR 2.277 billion as part of the pre-emptive rights’ implementation.

 

 

 

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