OREANDA-NEWS. PJSC RusHydro announces that the trading of ordinary and preferred shares of PJSC RAO ES of the East will be terminated from May 16, 2016, as per decision of Moscow Exchange (MOEX) in accordance with the Listing rules of MOEX as a result of mandatory squeeze-out procedure initiated by Vostok-Finance LLC (100% subsidiary of PJSC RAO ES East).

As a result of the voluntary offer for purchase of PJSC RAO ES of the East shares, Vostok-Finance LLC acquired ordinary and preferred shares comprising in aggregate 11.11% of PJSC RAO ES of the East voting shares, enabling RusHydro Group to consolidate over 95% in share capital of PJSC RAO ES of the East.

The squeeze-out price determined by an independent appraiser amounts to RUB 0.35 per ordinary share and RUB 0.22 per preferred share (vetted by an independent appraiser), which totally complies with the Russian legislation and equals the price of the tender offer held from November 3, 2015 to January 18, 2016.

In accordance with the Russian legislation the legal entity which has acquired over 95% of shares in the public joint-stock company as a result of the voluntary offer should exercise a squeeze-out right of the public joint-stock company in relation to the remaining shares. Shareholders should submit to the registrar of PJSC RAO ES of the East – JSC “STATUS” their applications containing bank or broker account details to receive payment for shares till May 16, 2016.