Dear Shareholders,
Vostok-Finance LLC (100% subsidiary of RAO ES EAST, PJSC, RusHydro Group) informs the shareholders of Public Joint Stock Company RAO Energy Systems of the East (RAO ES EAST, PJSC) of the compulsory acquisition (squeeze-out) of ordinary and preferred shares of RAO ES EAST, PJSC (MOEX tickers – VRAO, VRAOP).
The compulsory acquisition is conducted under article 84.4 of the Russian Federation’s law On Joint Stock Companies. In line with the legislation the shares are purchased by the legal entity which gained control over 95% of the public joint-stock company regardless of the consent of the other shareholders.
The acquisition price was determined by an independent appraiser and set at RUB 0.35 for one ordinary share and RUB 0.22 for one preferred share in full accordance with point 4 of article 84.4 of the Russian Federation’s law On Joint Stock Companies. The same price was used for the voluntary tender offer to acquire shares of RAO ES EAST, PJSC, which ran from November 3, 2015 to January 18, 2016. As a result of the voluntary tender offer shareholders sold a total of 11.11% of RAO ES EAST, PJSC shares to Vostok-Finance LLC, and RusHydro Group’s ownership increased to over 95% in the charter capital of RAO ES EAST, PJSC.
The shareholder are required to send a written request to the Registrar «STATUS» (109544, Moscow, Novorogozhskaya ul, 32, building) in accordance with the attached form. Any shareholder who fails to submit to the registrar «STATUS» their requests containing bank or broker account details by May 16, 2016, will be mandatorily withdrawn, with a cash settlement paid into the account of a notary in the city of Khabarovsk, Russian Federation. The settlement is due to be completed from May 17, 2016 to June 10, 2016.
The cash settlement with the shareholders who failed to submit the request with the needed bank account detail would be made through the deposit of the following notary office of Ms. Irina Vilvovskaya located in Khabarovsk, Russia, 680038, ul. Volochaevskaya, 180, t. 8 (4212) 56-33-42.
All further details of the compulsory acquisition are available in Russian at: http://rao-esv.ru/shareholders-and-investors/disclosure/redemption-of-shares/
RusHydro 