OREANDA-NEWS. UES intends to sell the shares that are going to be bought out from its shareholders after the EGM on Friday, October
26, Alfa Bank's information department reports. UES has already signed forward contracts with some "potential buyers" at a price of no less than the buyout share price, i.e. R32.15 per common share and R29.44 per preferred share. These forward contacts are set to expire on
March 1, 2008. Meanwhile, UES has not disclosed who these "potential buyers" are. These proposals will be discussed by UES's board of directors at its monthly meeting this Friday.

UES is holding an EGM dedicated to the company's breakup this Friday. Those shareholders who vote against the breakup or completely ignore the vote will be able to tender their shares for the buyout for a period of 45 days starting on October 27. The maximum number of shares that can be bought out is legally limited to 10% of UES's NAV, which corresponds to around $4 bln, or 7.5% of UES's equity.

According to Alfa Capital's experts,this news is a very positive development for UES'sshareholders. On the one hand, it eliminates the risk that substantial pressure will be put on UES's share price if UES sells its shares directly on the market. On the other hand, the willingness of some investors to buy UES shares at the buyout price is a good sign, as it demonstrates their confidence in the attractiveness of investing in UES stock even at these price levels.