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Compulsory redemption of shares of RAO Energy Systems of the East was completed by East-Finance - EastRussia | Far East

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The procedure of compulsory redemption of RAO ES of the East shares was completed by Vostok-Finance

Consolidated by the results of the voluntary offer over 95% of PJSC "RAO ES Vostoka" Vostok-Finance LLC completed the procedure of compulsory redemption of the remaining shares of the company

Procedure for the forced repurchase of shares
According to Vostok-Finance, it acquired 887 million 233 thousand 672 ordinary and 312 million 687 thousand 580 preferred shares of RAO ES of the East (together 2,64% of authorized capital).

The deal went through 8 June.

As reported, "RAO ES of the East" received a corresponding notice from the shareholder 31 March. The repurchase price corresponds to the terms of the previously directed voluntary offer - 35 kopecks. For ordinary and 22 cop. For a preferred share.

The list of owners of redeemable shares was drawn up on 16 May, the shares were redeemed from 17 May, the final date was 10 June.

Vostok-Finance belongs to RAO ES of the East itself, the company is an agent for the exchange and redemption of shares under an offer to the shareholders of the Far Eastern company. According to SPARK-Interfax, at the end of 2015 Vostok-Finance owned 1,81% in the authorized capital of ES of the East. At the end of March Vostok-Finance had 97,32% in the company, which gave him the right to buy out all the remaining shares. This means that the "Vostok-Finance" balance sheet was transferred to the "RusHydro" package, which at the end of the year owned 84,39% of RAO ES Vostok capital.
A voluntary offer was announced in November last year. Then the minority shareholders presented for the purchase of 11,225% of the authorized capital of RAO Energy Systems of the East, of which 11,01% are to be exchanged for RusHydro securities. The consolidation of 100% of RAO ES of the East is part of the implementation of the long-term development program of the RusHydro group.

The authorized capital of "ES of the East" is 22 billion 716 million 986 thousand 149,00 rubles, it consists of 45 billion 433 million 972 thousand 298 shares, including 43 billion 358 million 822 thousand 914 ordinary and 2 billion 75 million 149 thousand .384 preferred shares, Interfax notes.

The RusHydro Group is an energy holding company controlled by the state and managing hydroelectric power plants in the Russian Federation. The installed capacity of the group's stations is 38,5 GW, including the electrical capacities of OAO RAO Energy Systems of the East, as well as the Boguchanskaya HPP.