The Federal Anti-Monopoly Service (FAS) of Russia has approved the application by CJSC Donenergosbyt for its accession to JSC Energosbyt Rostovenergo
TNS energo Group of Companies Source: TNS Energo Press Service 23 january 2013
According to Articles 27, 33 of Federal Law No. 135-FZ as of 26 July 2006 ‘On the Protection of Competition’ the Federal Anti-Monopoly Service has examined the application of the Closed Joint Stock Company Donenergosbyt for accession to JSC Energosbyt Rostovenergo and has made a decision to approve the application.
The issue of the reorganisation of JSC Energosbyt Rostovenergo was placed on the agenda of the Extraordinary General Meeting of Shareholders, convened on 27 February 2013.
In connection with the inclusion in the agenda of the Extraordinary General Meeting of Shareholders of JSC Energosbyt Rostovenergo of ‘the issue of reorganisation of JSC Energosbyt Rostovenergo’ as a result of ‘the accession of JSC DES’, including the approval of the Agreement on the Accession of the Closed Joint Stock Company Donenergosbyt to the Open Joint Stock Company Energosbyt Rostovenergo, and the Act of Transfer and Acceptance of the Closed Joint Stock Company Donenergosbyt, the shareholders are entitled to require the Company to buy all, or part, of their voting shares in the case that they voted against the resolution or abstained from voting on the issue.
The shares will be repurchased at a price set by the Board of Directors of JSC Energosbyt Rostovenergo according to clause 3 of Article 75 of the Federal Law ‘On Joint Stock companies’.
The share repurchase price is:
- thirty-eight hundredths (0.38) of a ruble per ordinary share.
- And thirty-eight hundredths (0.38) of a ruble per privileged share.
The procedure for share redemption by the Company at the request of shareholders, together with an indication of the share purchase price is available.