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Moscow, 12 July 2005. The Board of Directors of OAO "Komienergo" appointed Valery Rodin, head of TGC-9*, as Director General of the Company. For this purpose the Board of Directors relieved Mikhail Smekalov, Director General of the Company, of his post in view of his transfer to other work within the RAO "UES of Russia" Holding Company.
Major task of Valery Rodin, as Director General of OAO "Komienergo", is to ensure proper restructuring of the Company in accordance with the basic plan for restructuring of regional energos approved by the Board of Directors of RAO "UES of Russia" and integration of OAO "Komienergo" generation assets to TGC-9. The restructuring of OAO "Komienergo" is due to be complete in June 2006, and transfer of its generation assets to TGC-9 using the lease arrangements – in the third quarter of 2006.
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The Board of Directors of OAO "Stavropolenergosbyt" appointed Elena Klimashevskaya as Director General of the Company.
* OAO "TGC-9", a wholly-owned subsidiary of RAO "UES of Russia", was registered on 9 December 2004 in the city of Perm. Valery Rodin is Director General of the Company. In accordance with the schedule for the establishment of OAO "TGC-9", the Company started its operations on 1 April 2005.
At the first stage, OAO "TGC-9" is to be formed on the basis of the generating assets of OAO "Permenergo" (after the reorganization, the assets of OAO "Perm Generation Company") and OAO "Sverdlovenergo" (after the reorganization, the assets of OAO "Sverdlovsk Generation Company"). The Board of Directors of RAO "UES of Russia" approved on 3 September 2004 the lease of the generating assets of OAO "Permenergo" and OAO "Sverdlovenergo" to OAO "TGC-9".
At the final stage of the company's establishment, OAO "Sverdlovsk Generation Company" and OAO "Perm Generation Company" will merge with and into OAO "TGC-9", followed by the contribution of shares in the generation company spun-off from OAO "Komienergo", as consideration for additional shares in OAO "TGC-9".
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