OREANDA-NEWS. The Board of Directors of RAO "UES of Russia" approved the programme for the preparation and issuance of additional shares by OAO "TGC-10".

The Board of Directors instructed the RAO UES representatives taking part in the general shareholder meeting of TGC-10 to vote FOR the approval of the following maximum amount of additional shares authorized for issuance: 500 million ordinary shares having a par value of RUB1,66 (115,63 percent of the TGC-10 capital before the offering, and 53.62 percent of the TGC-10 capital after the offering).

The final amount of additional shares to be issued will be determined by the Board of Directors of TGC-10 according to the need to raise RUB32 billion in equity in order to finance the company's investment programme.

The companies' shares will be offered to the general public ("open subscription") with payment for the shares to be made in cash. The Board of Directors of OAO "TGC-10" will determine the price at which the new shares will be offered, including to the persons entitled to the pre-emptive right to purchase such shares, based on the results of the book-building process and/or the results of the tender process among strategic investors.

The price will be the same for potential investors and the existing shareholders of TGC-10 entitled to the pre-emptive right to purchase the new shares.