print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  Unified Energy System REGISTER LOG IN

Press Releases > Unified Energy System  all about the company

company search
all press releases
all Unified Energy System press releases

Unified Energy System

July 27, 2007

Information regarding changes in the interests held by RAO UES managers the Company authorized capital

Moscow. 27 July 2007. The Audit Committee of RAO "UES of Russia" reviewed and noted the information regarding changes in the interests in the Company held by members of the RAO UES management bodies. These changes are connected with the acquisition of the Company's shares by a number of members of the Management Board under the stock option agreement.

As previously reported, in June 2004, pursuant to the resolution of the Board of Directors of RAO "UES of Russia" on the Terms and Conditions for the Conclusion and Implementation of Stock Purchase Plans by Senior Executives and Employees of RAO "UES of Russia", the Management Board members signed stock option agreements to purchase part of the Company's shares. The exercise date for the stock option agreements was 25 June 2007, based on the assumption that the electricity reform will have been competed by that time. (As is known, the deadline for the completion of the reform was postponed to mid-2008.)

In May 2007, the Management Board members took a decision not to sell the RAO UES shares acquired under the stock option agreement until the reorganization is completed, except for a limited number of shares, the proceeds from which will be used only to pay tax, repay loans and other liabilities under the stock option agreements. The Management Board members resolved to convert the remaining shares into the shares of the companies of the intended (post-reform) sector structure spun-off from the Company on the same terms as were set for all minority shareholders. The Board members will be able to decide on further disposal of the acquired shares only after 1 July 2008.

According to the approved resolution:

·         in order to acquire the shares under the stock option agreement, Chairman of the Management Board of RAO "UES of Russia" Anatoly Chubais sold 0.00195% of the Company's shares which he purchased in 2000. After the purchase, Anatoly Chubais holds 0.00781% of RAO UES shares.

·         in order to purchase the RAO UES shares, repay loan, loan interest, and other liabilities under the stock option agreement, Member of RAO UES Management Board Boris Ayuyev sold 0.00774% of the Company's shares acquired under the stock option programme. After the purchase, Boris Ayuyev holds 0.02081% of RAO UES shares.

·         in order to purchase the RAO UES shares, repay loan, interest, and other liabilities under the stock option agreement, Member of RAO UES Management Board Boris Vainzikher sold 0.00505% of the Company's shares acquired the Stock Option Programme. After the purchase, Boris Vainzikher holds 0.01448% of RAO UES shares.

·         in order to purchase the RAO UES shares, repay loan, loan interest, and other liabilities under the stock option agreement, Member of RAO UES Management Board Pavel Smirnov sold 0.00773% of the Company's shares acquired under the stock option programme. After the purchase, Pavel Smirnov holds 0.02061% of RAO UES shares.

This information is disclosed in accordance with the Regulation on the Disclosure of Information by Securities Issuer's approved by the Order the Federal Service for Financial Markets of Russia of 10 October 2006.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer