Company News / Holding news

Georgy Boos Elected as Chairman of IDGC Holding�s Board of Directors

Fri, 27 Jan 2012 00:00:00 +0300

On January 26, the headquarters of IDGC Holding hosted a meeting of the Board of Directors. The meeting elected Georgy Boos as the Chairman of the Board of Directors and Aleksey Perepyolkin, Deputy Director General for Corporate Governance and Property of IDGC Holding, as the Secretary of the Board of Directors.

As was reported earlier, the Extraordinary General Meeting of Shareholders of IDGC Holding elected the new Board of Directors of the Company on January 14, 2012. The new members are Georgy Boos, President, Boos Lighting Group Management Company; Andrey Bokarev, Chairman of the Board of Directors, CC Kuzbassrazrezugol; Sergey Borisov, President, OPORA RUSSIA; Pavel Borodin, Vice President, VimpelCom; Vyacheslav Kravchenko, Director General, United Energy Sales Company; Viktor Kudryavy, Advisor to President, EUROCEMENT Group; Georgy Kutovoy, Advisor to President on Energy, United Metallurgical Company; Seppo Remes, Director General, Kiuru; Sergey Serebryannikov, Rector, Moscow Power Engineering Institute; Vladimir Tatsiy, First Vice President, Gazprombank; Igor Khvalin, Executive Director, Volga Engineering Group; Thomas Hendel, General Director, rudea; Nikolay Shvets, Director General, IDGC Holding; Denis Fedorov, Director General, Gazprom Energoholding; and Vladimir Kolmogorov, Advisor to General Director, Norilsk Nickel.

At present, the authorized capital of IDGC Holding is 45,039,216,465 rubles and consists of 45,039,216,465 shares, each with a par value of 1 ruble, including 42,964,067,081 ordinary shares and 2,075,149,384 preference shares. A stake of 53.69% is held by the Government.

IDGC Holding is an open joint-stock company incorporated on July 1, 2008, the day when RAO UES of Russia ceased to exist. The shares held by RAO UES of Russia in interregional distribution grid companies and regional grid companies, together with its shares in some retail companies, were transferred to IDGC Holding. IDGC Holding’s net profit in accordance with Russian Accounting Standards for the nine months of 2011 went up by 50% on the corresponding period in 2010 and reached 2.7 billion rubles.

For information:

Georgy BOOS

Born January 22, 1963, in Moscow.

He was a student of Moscow�s School No. 21 with specialized courses in English.

In 1986, he graduated from the Moscow Power Engineering Institute, majoring in Electrical Engineering of Lighting Equipment. Candidate of Science (Engineering).

In 1986–1988, he served as an officer in the Soviet Army (Air Force) in the Far Eastern town of Spassk-Dalny.

In 1988�1991, he was an engineer, senior engineer, and junior research associate of the All-Union Research, Design and Lighting Technology Institute (VNISI). Simultaneously, he worked as a teacher of mathematics at Moscow�s High School No. 247.

In 1991�1993, he was the Director of Svetoservis, a lighting equipment research and production company.

In 1993�1995, he was the Director General of Svetoservis.

In December 1995, he was elected a deputy of the State Duma of the Federal Assembly of the Russian Federation of the 2nd Convocation from the Medvedkovo Single-Mandate Election District.

In 1996�1998, he was a deputy of the State Duma of the Federal Assembly of the Russian Federation, a member of the State Duma Committee on Budget, Taxes, Banks and Finance.

In 1996�1997, he was the Deputy Chairman of the Our Home � Russia parliamentary group.

In September 1998, he was appointed the Head of the State Taxation Service of the Russian Federation and, later, the Minister of Taxation of the Russian Federation. In May 1999, he was dismissed together with Yevgeny Primakov�s Government.

In December 1999, he was elected a deputy of the State Duma of the Federal Assembly of the Russian Federation of the 3rd Convocation from the Medvedkovo Single-Mandate Election District.

In 1999�2003, he was a member of the Fatherland � All Russia parliamentary group and a Deputy Chairman of the State Duma from the Fatherland � All Russia parliamentary group.

In December 2003, he was elected a deputy of the State Duma of the Federal Assembly of the Russian Federation of the 4th Convocation from the Medvedkovo Single-Mandate Election District.

In 2003�2005, he was a Deputy Chairman of the State Duma, a member of the Presidium of the United Russia parliamentary group, and a member of the Supreme Council of United Russia.

From September 2005 to September 2010, he held office as the Governor of the Kaliningrad Region.

In December 2011, he was elected the Chairman of the Board of Directors of State Joint-Stock Company All-Russian Exhibition Center, Open Joint Stock Company.

Awarded orders and medals (Order of Merit for the Fatherland (4th Class), Order of Honor, Order of Holy Prince Daniel of Moscow (2nd Class), etc.)

Married with six children.

Media Center
IDGC Holding
Telephone: (495) 710-64-32, (495) 710-53-33 (ext. 20-14)
Email:�pr@holding-mrsk.ru
www.holding-mrsk.ru

Changes in IDGC Holding�s Board of Directors

Mon, 16 Jan 2012 00:00:00 +0300

On the initiative of an owner of more than 10 percent of shares, the Russian Federation represented by the Federal Agency for State Property Management, IDGC Holding held the Extraordinary General Meeting of Shareholders in Moscow on January 14, 2012.

The agenda contained the issues related to the early termination of the powers of members of the Board of Directors of JSC IDGC Holding and the election of members of the Company’s Board of Directors.

The shareholders were provided with information on some performance results achieved by the Board of Directors and top managers of IDGC Holding in 2011. Specifically, it was noted that the Board of Directors of IDGC Holding decided in November 2011 to approve the Strategy for Development of JSC IDGC Holding Until 2015 with Long-Term Plans Until 2020.

The company has a strategic target to meet to raise its total operation and investment efficiency by 35 percent.

IDGC Holding approved the Uniform Technical Policy and formulated the special Innovative Development Program addressing technological modernization of the electricity distribution grid sector. The company published the road map of the consolidated Innovative Development Program. The road map specifies that over 21 billion rubles will be spent on the scientific and technological development of IDGC Holding’s management company and operating companies.

IDGC Holding earned a better international reputation and gained more appeal for investors. On November 15, 2011, IDGC Holding shares were included by Morgan Stanley Capital International in the MSCI Russia Index calculation.

In December 2011, the company successfully completed the listing process on the London Stock Exchange. This provided IDGC Holding with new opportunities to increase the liquidity of its securities.

As estimated by IDGC Holding’s Director General Nikolay Shvets, constructive cooperation among the government, minority shareholders, and the management company of IDGC Holding will make it possible to effectively develop the Russian electricity distribution grid sector in the coming years and make interregional and regional electricity distribution grid companies and the Group as a whole increasingly attractive to investors.

Based on the results of considering the issues put to a vote, the powers of the members of the Board of Directors of JSC IDGC Holding elected at the Annual General Meeting of Shareholders on June 22, 2011, were terminated earlier.

The Extraordinary General Meeting of Shareholders elected the following members of the Company’s Board of Directors:

1. Georgy Valentinovich Boos, President, Boos Lighting Group Management Company

2. Nikolay Nikolayevich Shvets, Director General, JSC IDGC Holding

3. Denis Vladimirovich Fedorov, Division Manager, Development of the Electric Power Sector and Marketing in the Electric Power Industry, OAO Gazprom; Director General, OAO Tsentrenergokholding; Director General, OOO Gazprom Energoholding

4. Seppo Juha Remes, Director General, OOO Kiuru

5. Vladimir Vasilyevich Kolmogorov, Advisor to General Director, MMC Norilsk Nickel

6. Vladimir Vitalyevich Tatsiy, First Vice President, Gazprombank (Open Joint-Stock Company)

7. Thomas Hendel, General Director, RUDEA OOO

8. Sergey Vladimirovich Serebryannikov, Rector, Moscow Power Engineering Institute (Technical University)

9. Vyacheslav Mikhailovich Kravchenko, Director General, OAO United Energy Sales Company

10. Andrey Removich Bokarev, Chairman of the Board of Directors, JSC CC Kuzbassrazrezugol and CJSC Transmashholding

11. Georgy Petrovich Kutovoy, Advisor to President on Energy, United Metallurgical Company

12. Viktor Vasilyevich Kudryavy, Advisor to President, EUROCEMENT Group ZAO

13. Pavel Andreyevich Borodin, Vice President, OJSC VimpelCom

14. Sergey Renatovich Borisov, President, OPORA RUSSIA All-Russian Public Organization of Small and Medium Business and Association of Entrepreneurial Organizations of Russia (OPORA) Nonprofit Partnership

15. Igor Vladimirovich Khvalin, Executive Director, ZAO Volga Engineering Group

MRSK Holding Today Lists on the London Stock Exchange

Thu, 08 Dec 2011 00:00:00 +0300

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

MRSK Holding (the “Company”), the largest electricity distribution company in Russia, announces that its Global Depositary Receipts (“GDRs”), each representing 200 ordinary shares of the Company, will be admitted today to the Official List of the UK Financial Services Authority (the "Official List") and to trading on the regulated market of the London Stock Exchange (the "LSE") under the symbol MRSK (the "Listing "). The Bank of New York Mellon is a depositary bank for the Company's GDRs programme.

Nikolay Shvets, CEO of MRSK Holding, commented:

“One of our priorities is to create conditions for attracting investments into the Russian electricity distribution system. Listing on the London Stock Exchange creates new opportunities for increasing the liquidity in our securities, as well as for the expansion and diversification of our investor base. Listing in London is an important milestone in our history.”

About MRSK Holding

MRSK Holding is the largest electricity distribution company in Russia and, the Company believes, one of the largest electricity distribution companies in the world by length of distribution lines and installed transformer capacity. MRSK Holding holds interests in and manages 11 interregional and five regional distribution grid companies in Russia.

As at 31 December 2010, MRSK Holding together with its subsidiaries owned and operated approximately 2.1 million kilometres of electricity distribution lines with a total installed transformer capacity of approximately 402 GVA.

Through its subsidiaries, the Company operates in 69 regions of Russia, covering an area of approximately 7.7 million square kilometres occupied by approximately 85 percent of Russia's total population according to Rosstat.

The Russian Federation holds 53.69 percent of MRSK Holding's total share capital.� Gazprom through its subsidiaries owns 10.04 percent of the Company’s total share capital, and other legal entities, nominee shareholders and individuals hold the remaining 36.27 percent in MRSK Holding.

MRSK Holding is included in the MSCI Russia Standard Index, MSCI Russia Mid Cap Index and MSCI Russia IMI Index.

Details of the Listing

There is no offering of the Company's GDRs or shares in any jurisdiction in connection with the Listing.

The GDRs are issued pursuant to the Regulation S and Rule 144A Deposit Agreement dated 23 January 2009, as amended.

A total of 42,964,067 GDRs will be admitted to the listing on the Official List and to trading on the LSE, including 251,891 GDRs currently outstanding and up to 42,712,176 additional GDRs to be issued from time to time. The total number of GDRs to be admitted to trading on the LSE represents 8,592,813,400 ordinary shares of the Company or approximately 20 per cent. of the total number of the Company's ordinary shares currently outstanding.

The Company may apply for admission of further GDRs within 12 months after 5 December 2011 (the date of the Prospectus). Only the Company's ordinary shares that are in existence as at 8 December 2011 (the date of the Listing), and new Shares issued within the 12 months after the date of the Prospectus can be deposited for GDRs. New ordinary shares of the Company issued more than 12 months after the date of the Prospectus cannot be used as deposits for GDRs. For GDRs to be issued against such new ordinary shares, the Company will be required to produce a prospectus approved by the UKLA to enable such new ordinary shares of the Company to be deposited against GDRs.

MRSK Holding's ordinary shares are currently listed on quotation list "B" of the Russian Trading System (RTS) and quotation list "A-1" of the Moscow Interbank Currency Exchange (MICEX).

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Further information can be found at www.holding-mrsk.ru. Neither the content of the Company's website nor the content of any other website accessible from hyperlinks on the Company's website is incorporated into, or forms part of, this announcement.

For further information:
FTI Consulting (Financial Communications advisor)
Larisa Millings / Marc Cohen� +44 20 7831 3113
Oleg Leonov / Maria Shiryaevskaya� +7 495 795 0623

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The information contained herein does not constitute or form part of any offer or invitation to sell or the solicitation of any offer to buy or subscribe for, nor shall there be any sale or subscription of, the securities referred to herein in connection with listing of such securities or this announcement. The offer and the distribution of this announcement and other information in connection with the listing and offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This communication is not an offer for sale of, or a solicitation to purchase or subscribe for, any securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). MRSK Holding has not registered and does not intend to register any securities under the Securities Act or to conduct a public offering of any securities in the United States.
This communication is directed only at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within (a)–(d) Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented EU Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the “Prospectus Directive”) is addressed solely to qualified investors (within the meaning of Article 21(1)(e) of the Prospectus Directive) in that Member State.
Information contained herein is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in Russia or to or for the benefit of any Russian person, and does not constitute an advertisement or offering of securities in Russia. This information is not intended to be and must not be publicly distributed in the Russian Federation and is not intended to and must not be sent to persons who are not qualified investors under Russian law. GDRs of the Company have neither been nor will be registered in Russia, nor are they intended for placement or circulation in Russia.