Publication date: 31.05.07
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Not for release, publication or distribution in the United States, Australia, Canada or Japan

The Board of Directors of Generation Company Four of the Wholesale Power Market (OGK-4) approved resolutions on approval of the Prospectus and the Resolution on the Additional Issue of Shares in OGK-4.


Number of additional securities – 23 billion shares, par value of one registered ordinary share – 0.4 rubles. Placement method of additional shares – public offering, payment form – in cash.


The authorized capital of OGK-4 will be increased by issue of additional shares for the purpose of raising up to 46,523,907 thousand rubles to be used for financing of the Company’s investment program.


The resolution on the increase of the authorized capital of OGK-4 by issue of 23 billion uncertificated registered ordinary shares with a par value of 0.4 rubles was approved by the extraordinary general meeting of shareholders of OGK-4 on April 23, 3007.

These materials are not an offer for sale of any securities of OAO OGK-4 (the «Company») in the United States, the Russian Federation, Australia, Canada or Japan.  Any securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.  The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of any securities in the United States.


This communication is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the «Order») or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as «relevant persons»). Any person who is not a relevant person should not act or rely on this communication or any of its contents.


Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented Directive 2003/71/EC (together with any applicable implementing measures in any Member State, the «Prospectus Directive») is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive.


Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in the Russian Federation or to or for the benefit of any Russian person or any person in Russia, and does not constitute an advertisement of any securities in the Russian Federation and must not be passed on to third parties or otherwise be made publicly available in the Russian Federation.