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Unified Energy System

December 23, 2005

TGC-9 shareholders approve merger of OAO "Sverdlovsk Generation Company" and OAO "Perm Generation Company" with and into OAO "TGC-9"

Moscow, 23 December 2005. At the EGM of OAO "TGC-9" ("Company")*, the shareholders approved the Company's reorganization through merger of OAO "Sverdlovsk Generation Company" and OAO "Perm Generation Company" with and into the Company.

The EGM also approved the Merger Agreement and an increase of the authorized capital of OAO "TGC-9" through issuance of 4,826,943,529,970 additional ordinary shares, RUB0.003 par value each, to be exchanged for shares in the companies with and into OAO "TGC-9".

Shares in the generation company to be spun off from OAO "Komienergo" will be exchanged for additional shares in OAO "TGC-9" after OAO "Komienergo" is unbundled by lines of business.

Thus, OAO "TGC-9" will become the second Territorial Generation Company (the first was OAO "TGC-5") to have taken, with the support of minority shareholders, all key resolutions required to create the target structure of the Company.

It is planned to complete the merger of OAO "Perm Generation Company" and OAO "Sverdlovsk Generation Company: with and into OAO "TGC-9" in Q2 2006. TGC-9 shares are scheduled to be floated on the stock market in Q2 2006.

OAO "TGC-9" was registered on 9 December 2004 in the city of Perm. At the time of establishment, the authorized capital of OAO "TGC-9" was RUB4.2 million and was divided into 1.4 billion ordinary shares. The share issue and share placement reports was registered by the FSFM of Russia on 17 March 2005. The Director General of OAO "TGC-9" is Valery Rodin.

OAO "TGC-9" started its operations on 1 April 2005.

 

 

 

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