Generation Company Four of the Wholesale Market of Power and Energy (WGC-4) and Russian Trading System Stock Exchange (RTS) have entered into an agreement for including WGC-4 ordinary shares in the list of traded securities.
In addition, WGC-4 shares were admitted, as of July 12, 2006, to the Moscow Interbank Currency Exchange (MICEX) trading floor.
Shares in WGC-4 will be traded at RTS and MICEX as non-listed shares.
It is planned that WGC-4 shares will start to be traded at RTS and MICEX not later than August 1, 2006, after the state registration of the reports on the WGC-4 additional share issues placed under the Company's consolidation. WGC-4 shares are expected to be included in Quotation List B of the Russian trading floors in November 2006.
The formation of the WGC-4 target structure was completed on July 1, 2006. On that day, BTPP-1, Smolenskaya TPP, Surgutskaya TPP-2, Shaturskaya TPP-5, and Yaivinskaya TPP terminated their operations as separate legal entities and were excluded from the Uniform State Register of Juridical Persons. From July 1, these companies obtained the status of WGC-4 subsidiaries. On the same day, shares in TPPs to be taken over were converted into WGC-4 shares. As a result of this consolidation, the authorized capital of WGC-4 increased up to 49.1 billion rubles. The shareholding of RAO UES of Russia in the authorized capital of the Company reached 89.6%, and 10.4% for minority shareholders.