Extraordinary general meeting at “Power Machines” was held on 24 October, which passed a decision for the reorganization by merging “Turbine Blades’ Plant”, “Leningradsky Metallichesky Zavod”and “Electrosila” with “Power Machines”.

Following converting coefficients were approved:
– one common share of Turbine Blades’ Plant (face value – Rbls 0.125) shall be converted simultaneously into 200 common shares of Power Machines (face value – Rbls 0.01)
– one common share of Leningradsky Metallichesky Zavod (face value – Rbls 0.04) shall be converted simultaneously into 70 common shares of Power Machines (face value – Rbls 0.01)
– one common share of Electrosila (face value – Rbls 0.05) shall be converted simultaneously into 71 common shares of Power Machines (face value – Rbls 0.01)

In case of a shareholder decided not to convert, the shareholder shall be entitled, within 45 days, to demand from the issuing authority to buy back the shareholder’s shares. The price for buying back one inscribed common share of Power Machines, as approved by the Board on the basis of an independent valuation of “Rosexpertiza” JC Limited, is Rbls 1.31 per share.