Moscow, 2 August 2006. Effective today, additional shares of OAO "WGC-4" placed in the course of the company's consolidation started trading on ZAO MICEX Stock Exchange. The shares have been included in the MICEX Non-Listed Securities Schedule. The shares of the principal issue were included in the MICEX Non-Listed Securities Schedule on 12 June 2006.
Also, the additional shares in WGC-4 were admitted to trading OAO "RTS Stock Exchange" on 27 July 2006, after they had been included in the RTS Non-Listed Securities Schedule. The principal issue of WGC-4 shares had been admitted to trading on RTS and included the stock exchange's Non-Listed Securities Schedule on 14 July 2006. WGC-4 is expected to float on NP "RTS Stock Exchange" in the very near future.
It is anticipated that the Company's shares will be included in the B Quotation Lists of the Russian stock exchanges in November 2006.
To date, OAO "WGC-2", OAO "WGC-3", OAO "WGC-4", OAO "WGC-5",OAO "Mosenergo" (OAO "TGC-3"), OAO "TGC-5" and OAO "TGC-6" have floated on the stock market. Shares in TGC-8, TGC-9 and WGC-6 are expected to start trading on the stock exchanges before the end of Q3 2006.
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OAO "WGC-4" was registered with the authorities on 4 March 2005 in the city of Surgut. The Director General of OAO "WGC-4" is Andrey Kitashev. The Board of Directors of RAO "UES of Russia" approved the resolution to establish OAO "WGC-4" as a wholly-owned subsidiary of OAO RAO "UES of Russia" at its meeting held 26 November 2004.
The target structure of OAO "WGC-4" was finalized on 1 July 2006. OAO "WGC-4" comprises the Berezovskaya TPP, Smolenskaya TPP, Surgutskaya TPP-2, Shaturskaya TPP, and Yaivinskaya TPP.
After the consolidation, the minority shareholders hold a 10.4% stake in WGC-4, while RAO "UES of Russia" controls 89.6%.
OAO "WGC-4" has been included in the list of pilot projects involving the issuance of additional shares to raise funds needed to develop the company.
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