Moscow, 29 September 2006. Today, four generation companies, OAO "WGC-1", OAO "WGC-2", OAO "WGC-6", and OAO "TGC-14" completed all the legal and corporate procedures required to consolidate their assets. The tax inspectorates in the companies' respective areas issued certificates evidencing termination of activity of the regional generation companies that merged with TGC-14 and AO-power plants that merged with and into WGC-1, WGC-2, and WGC-6. Now the RGCs and AO-power plants are TGC and WGC branches.
The RGCs and AO-power plants have completed their merger with and into the respective TGC and WGCs. Previously, resolutions to that effect were approved with the support of minority shareholders by the EGMs of the respective TGC and RGCs, WGCs and AO-power plants.
Today, shares of the RGCs and AO-power plants were converted into shares of the TGC and WGCs, and all shareholders in the RGC and AO-power plants became shareholders in the TGC and WGCs, respectively. After the share placement reports for the purpose of conversion are registered with the Federal Service for Financial Markets of Russia (FSFM), RAO "UES of Russia" will hold 92.16 percent, 80.93 percent, 93.48 percent and 49.45 percent of WGC-1, WGC-2, WGC-6 and TGC-14, respectively.
The consolidation of the companies' production and financial assets will boost the investment attractiveness of OAO "TGC-14", OAO "WGC-1", OAO "WGC-2", and OAO "WGC-6". The companies have already started submitting price bids to NP "Administrator of Trading System" (NP "ATS") as independent participants of the competitive market segment. To date, the target structure has been achieved at all six thermal WGCs and four TGCs (TGC-3 (OAO "Mosenergo"), TGC-4, TGC-5, and TGC-14).
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The Board of RAO "UES of Russia" approved the establishment of OAO "WGC-1" as a wholly-owned RAO UES subsidiary on 24 December 2004. OAO "WGC-1" was registered with the authorities on 23 March 2005 in the city of Tyumen. The target structure of OAO "WGC-1" comprises the Verkhne-Tagilskaya TPP, Nizhnevartovskaya TPP, Urengoyskaya TPP, Iriklinskaya TPP, Iriklinskaya HPP, Permskaya TPP, and Kashirskaya TPP-4.
The Board of RAO "UES of Russia" approved the establishment of OAO "WGC-2" as a wholly-owned RAO UES subsidiary on 24 December 2004. The company was registered with the authorities on 9 March 2005 in the settlement of Solnechnodolsk, Izobilnensky district, Stavropol Kray. The target structure of OAO "WGC-2" comprises the Stavropolskaya TPP, Pskovskaya TPP, Troitskaya TPP, Surgutskaya TPP-1, and Serovskaya TPP. In July 2006, WGC-2 shares were admitted to trading on ZAO "MICEX Stock Exchange", OAO "RTS Stock Exchange", NP "RTS Stock Exchange" without undergoing a listing procedure.
The Board of RAO "UES of Russia" approved the establishment of OAO "WGC-6" as a wholly-owned RAO UES subsidiary on 24 December 2004. The company was registered with the authorities on 17 March 2005 in the city of Rostov-na-Donu. The target structure of OAO "WGC-6" comprises the Ryazanskaya TPP, TPP-24, Novocherkasskaya TPP-1, Kirishskaya TPP, Krasnoyarskaya TPP-2 and Cherepovetskaya TPP. In August 2006, WGC-6 shares were admitted to trading on ZAO "MICEX Stock Exchange", OAO "RTS Stock Exchange", NP "RTS Stock Exchange".
OAO "TGC-14" was registered on 7 December 2004 with the Inspectorate of the Ministry of Taxes and Levies of the Russian Federation for the Ingodinsky Administrative District, city of Chita. The Board of Directors of RAO "UES of Russia" approved the establishment of OAO "TGC-14" as a wholly-owned RAO UES subsidiary on 3 September 2004. OAO "TGC-14" comprises OAO "Buryatgeneratsiya" and OAO "Chita Generation Company".
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